Elephant & Castle Group Inc. Issues Announcement.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Feb. 28, 2000 Elephant & Castle Group Inc. (Nasdaq:PUBSF)(PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :PUB) common stock will continue to be listed on The Nasdaq SmallCap Market subject to a cure period to allow it to meet the minimum bid price requirement. While Elephant & Castle Group Inc. failed to meet the minimum bid requirement as of Sept. 3, 1999, the Company was granted a temporary exception from this standard subject to Elephant & Castle Group Inc. meeting certain conditions. The exception will expire on March 27, 2000. In the event the Company is deemed to have met the terms of the exception, it shall continue to be listed on The Nasdaq SmallCap Market. The Company believes that it can meet these conditions, however, there can be no assurance that it will do so. If at some future date the Company's securities should cease to be listed on The Nasdaq SmallCap Market, they may continue to be listed in the OTC-Bulletin Board. For the duration of the exception, the Company's Nasdaq symbol will be (PUBFC). An Extraordinary General Meeting of shareholders has been called for March 23, 2000, at which time a proposal for a 1 for 2 share consolidation will be considered. "Additionally, the Company intends to take other business actions intended to enable it to meet the minimum bid price requirement now and in the future," said Rick Bryant, president of the Company. Elephant & Castle(R) Group Inc. is the largest operator and franchisor of authentic British-style pubs with 23 locations throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . In addition, the Company owns and franchises the Southwestern-theme restaurant concept called Alamo Alamo Eighteenth-century mission in San Antonio, Texas, site of a historic siege of a small group of Texans by a Mexican army (1836) during the Texas war for independence from Mexico. Grill(TM), currently located at the Mall of America Mall of America (also MOA, MoA, or the Megamall) is a shopping mall located in the Twin Cities suburb of Bloomington, Minnesota. It is just southeast of the junction of Interstate 494 and Minnesota State Highway 77, and is across the interstate from the in Bloomington, Minn., Franklin Mills Franklin Mills is an enclosed shopping mall located in northeast Philadelphia, Pennsylvania, bordering Bensalem in Bucks County and 15 miles outside Center City.[1] Mall in Philadelphia, Pa. and College Park, Atlanta. Elephant & Castle Group Inc. also has a joint venture agreement with Rainforest Cafe Rainforest Cafe is a themed restaurant chain owned by Landry's Restaurants, Inc. of Houston, Texas. It was founded and created by entrepreneur Steven Schussler. Description Inc. (Nasdaq:RAIN) to develop and operate the Rainforest Cafe restaurant and retail facilities in Canada. This news release (as well as information included in oral statements or other written statements made or to be made by the Company) may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , such as statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future expansion, that involve risks, and uncertainties relating to future events. Actual events or the Company's results may differ materially from the results discussed in the forward-looking statement. The Company does not expect to update forward-looking statements continually as conditions change. These risks and uncertainties include, but are not limited to, those relating to competition, fluctuations and changes in consumer preferences and attitudes, intellectual property protection, development and construction activities. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements contained in the company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission for the fiscal year ended Dec. 28, 1998. |
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