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TRAVERSE CITY, Mich., Jan. 25, 2017 (GLOBE NEWSWIRE) -- Bagger Dave's Burger Tavern, Inc. (expected to be OTCQX: BAGR) ("BAGR" or the "Company"), owner and operator of 18 Bagger Dave's restaurants in Indiana, Michigan and Ohio, today announced an update on the recent spinoff from Diversified Restaurant Holdings, Inc. (NASDAQ:SAUC) ("DRH"). The 1-for-1 distribution of BAGR shares occurred on December 25, 2016 for DRH shareholders of record on December 19, 2016. The request for the stock symbol "BAGR" has been made with Financial Industry Regulatory Authority ("FINRA") and the application to trade on the Over-the-Counter market ("OTCQX") was also submitted. Michael Ansley, Chairman and Chief Executive Officer of BAGR, commented "The spinoff and the distribution of the shares has been successfully completed. As an independent business, we can focus exclusively on the Bagger Dave's concept and drive customer awareness and satisfaction. We are excited to be in the home stretch to have BAGR shares traded on the OTCQX. I would like to thank our employees and shareholders for their patience through the process." The shares of BAGR will begin to trade on the OTCQX market place once clearance is received from FINRA for Spartan Securities to make a market for BAGR stock. This process is expected to be completed within the next few weeks. For further tax information for the BAGR stock distribution, please refer to the Investors section of the website at http://www.diversifiedrestaurantholdings.com/investors/sec-filings/default.aspx. About Bagger Dave's Burger Tavern, Inc.Bagger Dave's is a unique, full service, ultra-casual restaurant and bar concept that began business in January 2008. We currently operate 18 Bagger Dave's restaurants, with 15 located in Michigan, one in Indiana and two in Ohio. In addition, we have the right to franchise the concept in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio and Wisconsin. The Company routinely posts news and other important information on its website at www.baggerdaves.com. Safe Harbor StatementThe information made available in this news release contain forward-looking statements which reflect BAGR's current view of future events, results of operations, cash flows, performance, business prospects and opportunities. Wherever used, the words "anticipate," "believe," "expect," "intend," "plan," "project," "will continue," "will likely result," "may," and similar expressions identify forward-looking statements as such term is defined in the Securities Exchange Act of 1934. Any such forward-looking statements are subject to risks and uncertainties and the Company's spinoff, actual growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities could differ materially from historical results or current expectations. Some of these risks include, without limitation, the impact of economic and industry conditions, competition, food and drug safety issues, store expansion and remodeling, labor relations issues, costs of providing employee benefits, regulatory matters, legal and administrative proceedings, information technology, security, severe weather, natural disasters, accounting matters, other risk factors relating to business or industry and other risks detailed from time to time in the Securities and Exchange Commission filings of BAGR. Forward-looking statements contained herein speak only as of the date made and, thus, BAGR undertakes no obligation to update or publicly announce the revision of any of the forward-looking statements contained herein to reflect new information, future events, developments or changed circumstances or for any other reason.