Concept Development Partners Agrees to Invest Additional $6.5 Million in Granite City Food & Brewery®

Granite City Food & Brewery Ltd. GCFB today announced that it has entered into a stock purchase agreement with Concept Development Partners LLC (CDP), its controlling shareholder, pursuant to which CDP will invest an additional $6.5 million in Granite City in exchange for 3,125,000 shares of Granite City's common stock. The transaction is expected to close on or before June 26, 2012. “Everyone within the Granite City organization has worked extremely hard over the past year. We are pleased with the results we have achieved and are even more excited to see our partners at CDP demonstrating their confidence in us through this additional investment. This new capital will help to accelerate our growth going forward and we could not be more pleased,” said Rob Doran, CEO.