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.