Big Three Restaurants, Inc. entered into a letter of intent to acquire 904 Las Olas, Inc. from Gino SantaLucia for $2.5 million.

Big Three Restaurants, Inc. (OTCPK:BTHR) entered into a letter of intent to acquire 904 Las Olas, Inc. from Gino SantaLucia for $2.5 million on February 20, 2013. The letter was accepted by shareholders of 904 Las Olas. For the period ending 2012, 904 Las Olas reported gross revenue of $5.8 million and net profit of $0.79 million.

The purchase is subject to agreement as to terms by equity financers, completion of due diligence and entry into a definitive agreement, containing customary terms, conditions, representations and warranties by all parties.