MarketWatch:
NexCen Brands, Inc. today announced the signing of a master franchise agreement for the expansion into Canada of its Great American Cookies(R) franchised stores. This agreement, together with the development agreement previously announced for 30 stores to be opened in Mexico, provides a platform for Great American Cookies stores to be opened throughout North America.
The master franchise agreement calls for the development of 40 Great American Cookies stores in Canada over a 10-year term. Four stores are expected to open in the first year of the agreement. The principals of the master developer under this agreement also are the principals of the master developer for the Company’s Marble Slab Creamery concept in Canada under an existing agreement, pursuant to which 42 Marble Slab Creamery franchised stores have been opened since 2003 with 25 under development for 2009.