Tuesday, September 22, 2009

Granite City Food & Brewery Ltd. Announces Debt for Equity Transaction

MINNEAPOLIS--(BUSINESS WIRE)--Granite City Food & Brewery Ltd. (NASDAQ: GCFB) today announced a transaction that will allow the company to convert approximately $15.0 million of debt owed to DHW Leasing LLC (DHW) into 28 million shares of the company’s common stock at a conversion price of $0.54 per share.

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