MTY Food Group Inc.: Binding Agreement Signed for TCBY.MONTREAL -- The Company (TSX VENTURE:MTY) is pleased to announce that its wholly-owned subsidiary Matoyee Enterprises Inc. (the "Matoyee") has entered into a binding agreement to purchase from Mr. Daniel J. Tremblay and Mr. Donald Foley of LES ALIMENTS ALIMENTS. In the Roman and French law this word signifies the food and other things necessary to the support of life, as clothing and the like. The same name is given to the money allowed for aliments. Dig. 50, 16, 43. 2. TREMLAC CANADA LTEE LTEE Limitee (French: Limited Company) . (the "Vendor") all of the assets and undertaking of the Vendor's franchising rights in Canada to retailers, under the name "The Country's Best Yogurt" (the "TCBY") pursuant to a master franchise agreement with TCBY Systems Inc. of Little Rock, Arkansas Little Rock, Arkansas required military intervention to desegregate schools (1957–1958). [Am. Hist.: Van Doren, 556–557] See : Bigotry , USA, for an all cash undisclosed amount. There are presently 93 existing TCBY's outlets in operation in Canada, for the retail sale of frozen yogurt and other food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. items for carry-out and on-premises consumption. This will be a great acquisition for MTY as it provides Matoyee an international/national brand with a great history and potential opportunity for further development. The closing of the acquisition is subject to the completion of certain conditions, a full due diligence review, and the acceptance of the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . Closing of the acquisition is scheduled for August 1, 2005. The proposed acquisition does not represent a reverse take-over or change in business of the Company. This acquisition will complement and expand Matoyee's existing quick service franchise operations, and bring Matoyee's quick service franchise outlets to over 525 outlets in operation. On Behalf of the Board of Directors of MTY Food Group Inc. Stanley Ma, Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. This news release was prepared by management who takes full responsibility for its contents. The TSX Venture Exchange neither approves nor disapproves the contents of this news release. MTY FOOD GROUP INC. (TSX VENTURE:MTY) |
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