MTY Proposes to Acquire Yogen Fruz Canadian Franchise Rights.MONTREAL -- MTY MTY Monterrey, Nuevo Leon, Mexico - Escobedo (Airport Code) MTY million tons/year (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:MTY) is pleased to announce that it has reached an agreement with Yogen Fruz Yogen Fruz is a world-wide chain of frozen yogurt stores. Yogen Fruz serves a variety of other treats focusing on healthier alternatives. In 1986, two young brothers opened their first retail outlet at the Promenade Mall in Toronto, Canada. Canada Inc. ("YFC YFC Youth For Christ YFC Young Farmers Club (UK) YFC Youth Flying Club (Singapore) YFC Fredericton, New Brunswick, Canada - Fredericton Municipal (Airport Code) "), the owner and franchisor of the Yogen Fruz(TM) frozen dessert retail chain, to acquire the exclusive master franchise rights to franchise Yogen Fruz(TM) throughout Canada for a period of 20 years, plus an option to renew for a further 10 years. In consideration, MTY has agreed to pay YFC $3.0 million in common shares of MTY at a price of $4.11 per share (or a total of 729,927 shares). The shares will be subject to escrow restrictions as permitted by regulatory authorities. There are presently 177 Yogen Fruz(TM) franchised full stores and non-traditional franchised Yogen Fruz(TM) stores in Canada. Commencing the closing date, MTY shall appoint YFC to manage, supervise and further develop the Yogen Fruz(TM) franchising business in Canada for a two (2) year transition period. The agreement is subject to formal master franchise agreement and regulatory acceptance. On Behalf of the Board of Directors of MTY Food Group Inc. (signed) Stanley Ma, Chairman of the Board 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. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. MTY Food Group Inc. (TSX VENTURE:MTY) |
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