Noble Roman's Announces Corbel Loan Extension; Announces Continued Franchise Growth in January

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Noble Roman's Announces Corbel Loan Extension; Announces Continued Franchise Growth in January

BOULEVARD 30.01.2025

INDIANAPOLIS, IN / ACCESS Newswire / January 30, 2025 / Noble Roman's, Inc. (OTCQB:NROM), the Indianapolis based franchisor and licensor of Noble Roman's Pizza and Noble Roman's Craft Pizza & Pub, announced today that the company and Corbel Capital Partners had entered into an agreement to extend the company's senior lending facility by 60 days to April 7, 2025. Both parties recognize it is in the best interest of all equity stakeholders to secure the best possible terms for the financial restructuring of the company, including the repayment of the Corbel loan and the subordinated debt as well as for other company purposes. The company continues to remain in close conversation with interested parties and remains optimistic that such terms are obtainable within the extended timeframe.

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The company also announced that the growth of its non-traditional franchising in convenience stores was off to a good start in January, with both new units sold and new units opened. Historically, the first quarter has been slower for convenience store franchise growth since the early winter months are slower periods of business activity for convenience store operators. With the solid start to 2025, the company remains optimistic that it can match or exceed the significant unit growth experienced in 2024.

The statements contained in this press release concerning the company's future revenues, profitability, financial resources, market demand and product development are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) relating to the company that are based on the beliefs of the management of the company, as well as assumptions and estimates made by and information currently available to the company's management. The company's actual results in the future may differ materially from those indicated by the forward-looking statements due to risks and uncertainties that exist in the company's operations and business environment, including, but not limited to the ability of franchisees to timely prepare their units for scheduled openings, the company's ability to maintain adequate staff for new openings, competitive factors and pricing and cost pressures, non-renewal of franchise agreements or the openings contemplated by the development agreement not occurring, shifts in market demand, the success of franchise programs, including the Noble Roman's Craft Pizza & Pub format, general economic conditions, changes in demand for the company's products or franchises, the company's ability to service and refinance its loans, the impact of franchise regulation, the success or failure of individual franchisees and inflation, other changes in prices or supplies of food ingredients and labor and, as well as the factors discussed under "Risk Factors" contained in this company's Annual Report on Form 10-K for the year ended December 31, 2023. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. If activist stockholder activities ensue, the company's business could be adversely impacted.

FOR ADDITIONAL INFORMATION, CONTACT:
For Media Information: Scott Mobley, President & CEO ([email protected])
For Investor Relations: Paul Mobley, Executive Chairman ([email protected])
Mike Cole, Investor Relations: 949-444-1341 ([email protected])

SOURCE: Noble Romans, Inc.

View the original press release on ACCESS Newswire

E.Rodriguez--AT

Arizona Tribune - Noble Roman's Announces Corbel Loan Extension; Announces Continued Franchise Growth in January

Noble Roman's Announces Corbel Loan Extension; Announces Continued Franchise Growth in January

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