Los Angeles, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Giggles N’ Hugs Inc. (OTCQB: GIGL) (the “Company”) announced that it has filed an amended registration statement on Form S-1/A with the Securities and Exchange Commission (the “SEC”) for a rights offering to its shareholders of record (record date to be determined).

Under the proposed rights offering, Giggles N’ Hugs will distribute to its shareholders non-transferable subscription rights to purchase units of Giggles N’ Hugs. Each unit shall consist of one share of GIGL common stock and 0.70 of a five-year warrant. Each whole warrant will be exercisable for five (5) years for one share of GIGL common stock. In the rights offering, you will receive one subscription right for every share of common stock owned on the record date of the rights offering (date to be finalized).

Holders who fully exercise their basic subscription privilege will be entitled to purchase additional units via the over-subscription privilege (should any of the offering remain unsubscribed at the expiration of the subscription period). Holders will receive two non-tradable non-transferable subscription rights for every one share of common stock owned on the record date. Details of the rights offering will be set out in the Form S-1/A registration statement filed with the SEC, which is available on the SEC’s web site at: https://www.sec.gov/Archives/edgar/data/1381435/000149315218000328/0001493152-18-000328-index.htm

All of the company’s securities filings are available here: http://www.sec.gov

The Company intends to use the proceeds for general corporate purposes, to supplement operating cash flows, to fund new location expansion and to support its acquisition growth plan. The Company also plans to use a portion of the proceeds to repay certain outstanding indebtedness.

Giggles N’ Hugs has engaged Advisory Group Equity Services, Ltd. doing business as RHK Capital as Dealer-Manager in the offering, Mackenzie Partners, Inc. as Information Agent and West Coast Stock Transfer, Inc. as Subscription Agent. Questions about the rights offering or requests for copies of the prospectus, when available, may be directed to Mackenzie Partners at (800)322-2885 or rightsoffer@mackenziepartners.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The completion of the rights offering remains subject to the satisfaction of certain conditions, and Giggles N’ Hugs reserves the right to terminate the rights offering at any time prior to the expiration date of the rights offering, including prior to the rights distribution or the commencement of the rights offering.

About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. The locations feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.

Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.


INFORMATION AGENT:
Mackenzie Partners, Inc.
(800)322-2885
rightsoffer@mackenziepartners.com

INVESTORS RELATIONS CONTACT:
Bruce Haase

RedChip Companies, Inc.

800.733.2447, ext. 131

bruce@redchip.com