Williston Holding Company, Inc. cancelled the acquisition of substantially all of the assets of Kona Grill, Inc.
August 31, 2019
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Williston Holding Company, Inc. (OTCPK:WHCA) entered into an agreement to acquire substantially all of the assets of Kona Grill, Inc. for $20.3 million on May 13, 2019. The consideration will be paid in cash. Williston Holding Company, Inc. shall deposit into an escrow with counsel of the Kona Grill, Inc, which shall be held in a trust account an amount equal to $2.03 million in immediately available, good funds of the United States of America , pursuant to joint escrow instructions to be delivered to the Escrow Holder on or before the Effective Date. The transaction is subject to the approval of bankruptcy court. As on July 25, 2019, U. S. Bankruptcy Judge Christopher S. Sontchi approved sale of 24 of restaurant chain Kona Grill's locations. Jeremy V. Richards and John W. Lucas of Pachulski Stang Ziehl & Jones LLP acted as legal advisor for Kona Grill, Inc. Phillip W. Bohl of Gray, Plant, Mooty, Mooty & Bennett, P.A. acted as legal advisor for Williston Holding Company, Inc.
Williston Holding Company, Inc. (OTCPK:WHCA) cancelled the acquisition of substantially all of the assets of Kona Grill, Inc. on August 1, 2019.
Williston Holding Company, Inc. (WHC), is an infrastructure development company. The Company was formed for the purpose of developing, operating, and/or investing in infrastructure-related projects in the Bakken region of North Dakota. WHC currently owns four restaurants in Williston, North Dakota: Williston Brewing Company; Doc Holliday's; J Dub's Bar & Grill; and Gramma Sharon's. In March 2014, the Company acquired approximately 80% of Mexican Restaurants, Inc. (MRI) in a series of private transactions with certain controlling shareholders of MRI. MRI owns and operates approximately 46 and franchises 11 full-service and Mexican-themed restaurants, primarily in the greater Houston metropolitan area, under the following brands: Casa Ole'; Crazy Jose's; Monterey's Little Mexico; and Tortuga Mexican Kitchen. MRI also operates a fast casual concept restaurant under the name Mission Burrito.
WILLISTON HOLDING COMPANY, INC. 
