LAFAYETTE, CO / ACCESSWIRE / September 27, 2024 / urban-gro, Inc. (NASDAQ:UGRO) ("urban-gro" or the "Company"), an integrated professional services and Design-Build firm offering solutions to multiple sectors, today announced that after more than a year of providing Mechanical, Electrical, and Plumbing (MEP) engineering services for the internationally renowned Brazilian restaurant chain, Fogo de Chão, the firm is excited to announce the award of a construction contract to build a new restaurant in Katy, Texas. The contracted scope of work includes preconstruction, construction, and post-construction services for the retrofit project. Work is commencing immediately, with the majority of the undisclosed revenue expected to be recognized by the first quarter of 2025.
"We are grateful for the opportunity to expand our relationship with Fogo de Chão by taking on this exciting construction project in Katy, Texas," said Bradley Nattrass, Chairman and CEO. "Our relationship with Fogo de Chão started in 2023 with comprehensive engineering services and now regularly includes construction. We are dedicated to assisting Fogo de Chão in efficiently expanding their distinctive dining experience in Texas, while continuing to strengthen our presence in the market as well."
About urban-gro, Inc. urban-gro, Inc.® (NASDAQ:UGRO) is an integrated professional services and Design-Build firm. We offer value-added architectural, engineering, and construction management solutions to the Controlled Environment Agriculture ("CEA"), industrial, healthcare, and other commercial sectors. Innovation, collaboration, and creativity drive our team to provide exceptional customer experiences. With offices across North America and in Europe, we deliver Your Vision - Built. Learn more by visiting www.urban-gro.com.
About Fogo de Chão Fogo de Chão (fogo-dee-shown) is an internationally renowned restaurant from Brazil that elevates the culinary art of churrasco - the art of roasting high-quality cuts of meat over an open flame - into a cultural dining experience. Fogo is famed for its prix fixe Full Churrasco Experience that offers a continuous selection of premium cuts butchered daily by gaucho chefs, simply seasoned and grilled to create a craveable salty bark, then carved tableside. The naturally gluten-free Market Table offers a selection of seasonal salads, charcuterie, exotic fruit, superfoods and more. From celebratory to everyday occasions, Fogo provides selections for every daypart, including All-Day Happy Hour at Bar Fogo, Weekday Lunch, Dinner, and Weekend Brazilian Brunch. Guests can enhance their experience with offerings ranging from a shareable Wagyu New York Strip, South American wines, and more. For locations and to book a reservation to experience the fire of Fogo, visit fogo.com.
Safe Harbor Statement This press release contains 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. When used in this release, terms such as "believes," "will," "expects," "anticipates," "may," "projects" and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. The forward-looking statements in this press release include, without limitation, financial projections, financial guidance, future events, business strategy, future performance, future operations, future demand, backlog, financial position, estimated revenues, losses, adjusted EBITDA, prospects, plans and objectives of management, including the future ability to position the Company for long-term profitable growth. These and other forward-looking statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including, among others, our ability to successfully manage and integrate acquisitions, our ability to accurately forecast revenues and costs, competition for projects in our markets, our ability to predict and respond to new laws and governmental regulatory actions, including delays granting licenses to clients or potential clients and delays in passage of legislation expected to benefit our clients or potential clients, our ability to successfully develop new and/or enhancements to our product offerings and develop a product mix to meet demand, risks related to adverse weather conditions, supply chain issues, rising interest rates, economic downturn or other factors that could cause delays or the cancellation of projects in our backlog or our ability to secure future projects, our ability to maintain favorable relationships with suppliers, risks associated with reliance on key customers and suppliers, our ability to attract and retain key personnel, results of litigation and other claims and insurance coverage issues, risks related to our information technology systems and infrastructure, risks associated with climate change and ESG matters, our ability to maintain effective internal controls, our ability to execute on our strategic plans, our ability to achieve and maintain cost savings, the sufficiency of our liquidity and capital resources, and our ability to achieve our key initiatives for 2023, particularly our growth initiatives. A more detailed description of these and certain other factors that could affect actual results is included in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law.
Investor Contacts: Dan Droller - urban-gro, Inc. -or- Jeff Sonnek - ICR, Inc. (720) 730-8160 investors@urban-gro.com
Media Contact: Barbara Graham - urban-gro, Inc. (720) 903-1139 media@urban-gro.com
