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BRAINERD INTERNATIONAL INC. ANNOUNCES RIGHTS OFFERING TO SHAREHOLDERS

 MINNEAPOLIS, Dec. 18 /PRNewswire/ -- Brainerd International Inc. (NASDAQ: BIRI) (BII), announced today that it has filed with the Securities and Exchange Commission a registration statement in connection with a proposed rights offering to the company's shareholders.
 Under the proposed terms of the offering, shareholders as of a date yet to be determined will have the opportunity to acquire up to three additional shares of BII common stock for each share owned as of the record date at a price of $1.50 per share.
 Gene Snow and James Littlejohn, principal shareholders and directors of BII, have agreed to acquire a minimum of 200,000 shares in the rights offering through conversion of debt due them by BII.
 BII has also announced that for the first nine months of 1992, the company has reported net income of $259,138 on revenues of $1,882,774 as compared to a net income of $265,116 on revenues of $1,754,705 for the same period in 1991.
 Brainerd International, Inc., owns and operates Brainerd International Raceway, a 500-acre multi-purpose motorsports facility in north central Minnesota. The company is pursuing the development of a second racing facility in south eastern Wisconsin near the village of Genoa City.
 The company's common shares are traded on the national over-the- counter market under the NASDAQ symbol BIRI. Corporate headquarters is located in Minneapolis.
 -0- 12/18/92
 /CONTACT: Richard L. Roe of BII, 612-475-1500/
 (BIRI)


CO: Brainerd International Inc. ST: Minnesota IN: SU: OFR

KH -- MN007 -- 8303 12/18/92 14:35 EST
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Publication:PR Newswire
Date:Dec 18, 1992
Words:257
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