Noble Roman’s Reiterates Growth Priorities; Announces Results for the First Six Months Operation of Craft Pizza & Pub; Announces Full Financial Results for the Second Quarter


1 Virginia Avenue, Suite 300
Indianapolis, IN 46204

For Media Information: Scott Mobley, President & CEO 317/634-3377
For Investor Relations: Paul Mobley, Executive Chairman 317/634-3377

Noble Roman’s First “Craft Pizza & Pub” Opened January 31st

Noble Roman’s also announces extended term for its bank financing.
(Indianapolis, Indiana) – February 2, 2017 — Noble Roman’s, Inc. (OTCQB: NROM), the Indianapolis based franchisor and licensor of Noble Roman’s Pizza, today announced that it opened its first location for the company’s new-generation, stand-alone pizzeria concept dubbed Noble Roman’s Craft Pizza & Pub. The pizzeria concept has a hint of nostalgia with a modern flair and substantial new innovations. The first location opened in a 4,000 square feet of the newly constructed Monon Marketplace on Main Street/Highway 32 across from Grand Park in Westfield, Indiana, a prosperous and growing community on the northwest
side of Indianapolis.

Noble Roman’s Craft Pizza & Pub harkens back to the company’s early history when it was known simply as “Pizza Pub.” Like then, and like the new fast casual pizza concepts today, ordering takes place at the counter and food runners deliver orders to the dining room for dine-in guests. Noble Roman’s Craft Pizza & Pub features many exciting enhancements over the current competitive landscape. As the name implies, the restaurant features two styles of hand-crafted, made-from-scratch pizzas with a selection of 40 different toppings, cheeses and sauces from which to choose. Beer and wine is also featured, with 16 different beers on tap including both national and local craft selections. Wines include 16 high quality, affordably priced options by the bottle or glass in a range of varietals. Beer and wine service is provided at the bar and throughout the dining room. The pizza offerings feature Noble Roman’s traditional hand-crafted thinner crust as well as its signature deep-dish Sicilian crust.

New technology and extensive R&D are bringing amazingly fast cook times, with oven speeds running only 2.5 minutes for traditional pies and 5.75 minutes for Sicilian pies. And not just individual pizzas, as most fast casual concepts, but medium and full-sized large pizzas as well – an essential component, the company believes, to offer that full-fledged pizzeria experience where dinnertime meals are a shared experience. Traditional pizza favorites such as pepperoni are obvious options on the menu, but also
offered is a fun selection of original creations such as “Pig in the Apple Tree,” a pizza featuring bacon, diced apples, candied walnuts and gorgonzola cheese. The menu also features a selection of contemporary and fresh, made-to-order salads such as “Avocado Chicken Caesar,” and fresh-cooked pasta like “Chicken Fettuccine Alfredo.” Baked subs, hand-sauced wings, a selection of desserts and, of course, Noble Roman’s famous Breadsticks with Spicy Cheese Sauce also make the menu!

Additional enhancements include a glass enclosed “Dough Room” where Noble Roman’s Dough Masters hand make all pizza and breadstick dough from scratch in customer view. Also in the dining room is a “Dusting & Drizzle Station” where guests can customize their pizzas after they are baked with a variety of toppings and drizzles, such as rosemary infused olive oil, honey and Italian spices. Kids (and parents!) enjoy Noble Roman’s root beer tap, which is part of a special menu for customers 12 and younger. Throughout the dining room and the bar area are thirteen large and giant screen TV monitors for sports and the nostalgic
black & white shorts featured in Noble Roman’s earlier days.

Scott Mobley, president of Noble Roman’s, said of the new launch, “Noble Roman’s Craft Pizza & Pub is the most exciting development for the company since it pioneered the non-traditional pizza venue. This stand-alone pizzeria concept is the culmination of some of the best of our history combined with all-new, leading edge technology and recipes to produce what we think will be a terrific growth vehicle for the future.” According to Mr. Mobley this first unit in Westfield opened January 31st
and has exceeded grand opening volume projections and created tremendous excitement in the area in only the first two days of operation.

Amendment to the Company’s Bank Loans & Other Financial News On January 25, 2017, Noble Roman’s, Inc. and the company’s senior lender, BMO Harris Bank, N.A. entered into an amendment to the credit agreement by and between the company and the bank. Pursuant to the amendment, the bank extended the maturity date of the company’s obligations to the bank from March 2017 to March 2018, while keeping the monthly principal amortization,the interest rate and all other terms the same.

On January 26, 2017, the company borrowed $600,000 from Paul Mobley, the company’s Executive Chairman and Chief Financial Officer, evidenced by a promissory note. On February 1, 2017 the company used that $600,000 to repay the outstanding obligations under a promissory note dated July 1, 2015 issued by the company to Kingsway America. The note to Mr. Mobley matures on March 31, 2018. Interest on the note is payable at the rate of 7% per annum quarterly in arrears. The note is unsecured. As a result of the above transactions the company replaced a $600,000 note to Kingsway America due on July 2, 2017 bearing interest at 8% per annum with a note to Mr. Mobley for $600,000 due March 31, 2018 and bearing interest at 7% per annum.

The company also announced that it had completed the final closing of the private placement of notes and warrants previously announced. Through the private placement, the company has now issued $2,400,000 in subordinated convertible notes (convertible to common shares at $.50 per share) and warrants to purchase up to 2,400,000 shares of the company’s common stock at $1.00 per share.

About Noble Roman’s
Noble Roman’s, Inc. sells and services franchises and licenses for non-traditional foodservice operations under the trade names “Noble Roman’s Pizza”, ” Noble Roman’s Take-n-Bake”, “Tuscano’s Italian Style Subs” and now “Noble Roman’s Craft Pizza & Pub”. The company has awarded franchise and/or license agreements in all 50 states plus Washington, D.C., Puerto Rico, the Bahamas, Italy, Canada and the Dominican Republic.

The statements contained in this press release concerning the company’s future revenues, profitability, financial resources, market demand and product development are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) relating to the company that are based on the beliefs of the management of the company, as well as assumptions and estimates made by and information currently available to the company’s management. The company’s actual results in the future may differ materially from those projected in the forward-looking statements due to risks and uncertainties that exist in the company’s operations and business environment, including, but not limited to, competitive factors and pricing pressures, non-renewal of franchise agreements, shifts in market demand, the success of new franchise programs with limited operating history including the stand-alone take-n-bake locations, general economic conditions, changes in purchases of or demand for the company’s products, licenses or franchises, the success or failure of individual franchisees and licensees, changes in prices or supplies of food ingredients and labor, and dependence on continued involvement of current management and the performance of the recently added sales staff and a franchise broker.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may differ materially from those described herein as anticipated, believed, estimated, expected or intended. The company undertakes no obligations to update the information in this press release for subsequent events.