Good Times Restaurants Announces Completion of $2M Convertible Preferred Stock Purchase Agreement Requirements

Good Times Restaurants

announced today it has received shareholder approval for the closing scheduled this week of the previously announced $2 million convertible preferred stock transaction with Small Island Investments, Ltd. Following the closing, the Company's net equity will exceed the required minimum of $2.5 million for continued listing on the Nasdaq Capital Market. The Company intends to use the proceeds of the transaction to repay all remaining bank debt and to increase its working capital position as it continues to evaluate acquisition and growth opportunities. Good Times is a regional chain of quick service restaurants located primarily in Colorado providing a menu of high