Wendy’s International Recognizes Meritage Hospitality Group With National Monument Award

GRAND RAPIDS, Mich., Sept. 20, 2022 (GLOBE NEWSWIRE) — Meritage Hospitality Group Inc. (OTCQX: MHGU), the nation’s premier franchise operator, today announced that the Company was awarded the Wendy’s 2022 Monument Award – Visionary Growth and Expansion in the large franchise category.

Wendy’s awards are presented annually to recognize outstanding franchise, supplier and company performance and to honor top leaders across the system. The Monument Award acknowledges partners that strengthen the Wendy’s brand through their commitment to restaurant development, quality, service, value and sustainability.

Meritage Hospitality Group was honored to be awarded the 2022 Monument Award. The ​award recognizes a franchisee who is passionate about delighting every customer through brand expansion by building new restaurants, running great operations, creating opportunities for their people and looking to expand the Wendy’s brand throughout their communities. The award was presented last week at the Wendy’s National Convention.

Specifically, Meritage was recognized for efforts in:

• Frequently launching market tests on new products and promotions for future national roll out
• Executing and supporting brand initiatives and direction consistently in all markets
• Piloting new building formats, which will feature a new, sleek and modern design with an optimized layout and next-generation technology
• Adopting and investing in new methods of managing the business such as Gridpoint energy management and Corrigo ticketing and asset management
• Continuous improvement in brand performance through investment in people, facility maintenance, field and the Restaurant Service Center organizational support structure
• Supporting communities through continuous involvement including the Dave Thomas Foundation for Adoption efforts

“Four years ago, we set a plan in motion with our teams to be the best operator in the system. This is a culmination of that dream and is a huge collective achievement for Meritage. We are so proud of our teams and their efforts that are recognized with this year’s award,” stated Gary Rose, President & Chief Operating Officer.

About the Company

Meritage Hospitality Group is the nation’s premier franchise operator, currently with 350 restaurants in operation located in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, South Carolina, Ohio, Oklahoma, Tennessee, Texas and Virginia. Meritage is headquartered in Grand Rapids, Michigan, operating with a workforce of approximately 11,000 employees. At fiscal year-end 2021, the Company had total Diluted Weighted Average Shares Outstanding of 9,631,000 and Fully Diluted EPS of $1.81.

The Company’s current and publicly available information pursuant to SEC Rule 15c2-11 and FINRA Rule 6432 can be found at www.otcmarkets.com, under the stock symbol MHGU/Disclosures or the Company’s website, www.meritagehospitality.com.

SAFE HARBOR STATEMENT
Certain information in this new release, particularly information regarding future economic performance and finances, and plans, expectations and objectives of management, constitutes forward-looking statements. Factors set forth in our Safe Harbor Statement, in addition to other possible factors not listed, could affect the Company’s actual results and cause such results to differ materially from those expressed in forward-looking statements. Please review the Company’s Safe Harbor Statement at http://www.meritagehospitality.com.

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