Heads of terms for US and Canada franchise deal

RNS Number : 3207X

Escape Hunt PLC

29 April 2019

 

Escape Hunt plc

(the "Company" or "Escape Hunt")

Heads of terms for US and Canada franchise deal

Escape Hunt (AIM:ESC) announces that it has signed heads of terms with a US franchising partner for a roll-out of new franchisee sites across the US and Canada. Although the heads of terms are detailed, they are still subject to a contract being completed.

The US partner brings a wealth of experience both as a franchisee and franchisor of a number of leisure businesses, with dedicated management and the financial resources to execute the anticipated roll-out. A detailed plan to address the significant market opportunity has already been developed with this US partner during discussions over the last six months.

In line with its ambition of growing the franchise estate by two to three times over the medium term in conjunction with well-resourced partners, Escape Hunt believes that this deal represents a significant step towards achieving this goal.

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

Enquiries
Escape Hunt plc Richard Harpham (Chief Executive Officer)  Alistair Rae (Chief Financial Officer)        Mustapha Omar (Commercial Director)	[phone]
Stockdale Securities Ltd  - NOMAD and Joint Broker Daniel Harris, David Coaten (Corporate Finance) Fiona Conroy (Corporate Broking)	[phone]
Peel Hunt LLP - Joint Broker George Sellar	[phone]
Yellow Jersey - Financial PR Tim Thompson Harriet Jackson   Henry Wilkinson	[phone]

The person arranging release of this announcement on behalf of the Company is Alistair Rae, Chief Financial Officer.

About Escape Hunt plc

The Escape Hunt Group is a global leader in providing live escape-the-room experiences with a network of owner-operated sites in the UK and a global network of franchised outlets in six continents. The Company was re-admitted to AIM in May 2017 and has a strategy of creating high quality premium games and experiences, which incorporates branded IP content.

 

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