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ACQUERRE II CORPORATION/PET FOOD WAREHOUSE ANNOUNCE $2,950,000 FINANCING

 ROSEVILLE, Minn., Jan. 14 /PRNewswire/ -- Acquerre II Corporation is a publicly held company which owns 100 percent of Pet Food Warehouse. Pet Food Warehouse is a rapidly growing multi-store retailer of pet food and supplies. Pet Food "superstores" are creating a new niche in pet food and supply marketing. Operating in 17,000 - 20,000 square feet and carrying thousands of pet related items, all major pet food and brands are at warehouse prices. Pet Food Warehouse revenues were $11,000,000 in 1992; $7,000,000 in 1991.
 Cherry Tree Ventures is the largest investor in financing up to six additional stores over the next year. Their investment came after a group of accredited investors completed a private round of financing; this group included Okebena Partnership. Cherry Tree Ventures were issued 2.7 million shares in the financing. The private investor group were issued 2.9 million shares.
 Additional financing may come through the public warrants currently outstanding Acquerre II Corporation plans to register the stock underlying the warrants and extend the period to exercise these warrants which could result in $3,000,000 of financing this summer.
 -0- 1/14/93
 /CONTACT: George E. Kline of Acquerre II, 612-344-1900/


CO: Acquerre II Corporation, Pet Food Warehouse ST: Minnesota IN: REA SU: FNC

AL -- MN017 -- 5033 01/14/93 16:19 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 14, 1993
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