QualityStocks News - Latitude 360’s (LATX) Settlement Agreement with EPR Properties Enables Re-focus on Nationwide Expansion

QualityStocks would like to highlight Latitude 360, Inc. (OTCQB: LATX), an award-winning pioneer of a dining and entertainment venues that combine premier upscale casual dining with numerous state-of-the-art entertainment choices. The company develops, constructs and operates cutting-edge Latitude 360 venues ranging from 35,000-85,000 sq. ft., packed full of eating and entertainment options that appeal to a broad base of guests, private events and corporate clients.

In the company’s news,

Latitude 360, Inc. announced that following a settlement agreement and full release of all liabilities with 30 West Pershing, LLC, a subsidiary of EPR Properties, the company has closed its Indianapolis, Indiana, and Jacksonville, Florida, entertainment/eatery venues.

According to management, the deal removes significant liabilities and clears the path for the company to explore new locations and joint ventures.

“We want to thank these communities for their support and loyalty over the years as Latitude 360 developed and refined our award-winning concept. Although there is disappointment in closing these two locations, our brand and concept remain strong and we feel that this settlement will provide the company the opportunity to expand the Latitude 360 brand to multiple new locations across the country. We will always cherish the memories and great times we had with our guests in Jacksonville and Indianapolis,” Latitude 360 CEO Brent Brown stated in the news release.

Latitude 360 CFO Alan Greenstein agrees, further noting, “This settlement will allow our company to improve its balance sheet and position ourselves for planned future growth.”

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.