USA: Granite City Food & Brewery Ltd. extends expiration date of Class A Warrants
USA: Granite City Food & Brewery Ltd. announced on May 4 that its board of directors has extended the expiration date of the Company's Class A Warrants through 5:00 p.m., Minneapolis time, on December 15, 2005.
The Company currently has 1,000,000 Class A Warrants outstanding. Each Class A Warrant entitles the holder thereof to purchase 1.072962 shares of the Company's common stock at an exercise price of $4.66 per share, subject to adjustment. The Company may redeem the Class A Warrants, on 20 days' written notice, at $0.01 per share if the closing bid price of the Company's common stock exceeds $5.83 per share, subject to adjustment, for any 45 consecutive trading days.
Granite City Food & Brewery Ltd. currently operates eight Granite City Food & Brewery casual dining restaurants featuring made-from-scratch food and handcrafted beers. Its broad menu offers traditional and regional foods served in generous portions at reasonable prices, affording guests an excellent value and great dining experience. Its first Granite City location, in St. Cloud, MN, opened in June 1999. Subsequently, the Company opened restaurants in Sioux Falls, SD, Fargo, ND, West Des Moines, IA, Cedar Rapids, IA, Davenport, IA, Lincoln, NE and Minneapolis, MN.
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