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MAVERICK RESTAURANT CORPORATION REPORTS COMPLETION OF PRIVATE PLACEMENT OF COMMON STOCK

 WICHITA, Kan., Jan. 12 /PRNewswire/ -- Maverick Restaurant Corporation (OTC Bulletin Board: MAVR) today reported the completion of the funding of a private placement under which the company has raised a total of $2,OOO,OOO through the sale of restricted common stock.
 The Company has sold to two individuals 750,OO0 shares of restricted common stock for a total of $1,500,000. These same individuals had previously purchased 333,333 shares of restricted common stock for a total of $500,OOO in October of 1993. The Company now has 6,053,333 shares of common stock outstanding.
 Chris F. Hotze, president of Maverick Restaurant Corporation, stated, "Proceeds from the private placement will be used to develop Cotton Patch Cafe Restaurants. We continue to be pleased with the performance of our first Cotton Patch Restaurant that opened last August in Muskogee, Okla. Our second location opened last week in Bartlesville and the initial sales and customer response has been very positive. The Company has signed a lease for a third Cotton Patch Cafe to be located in Ponca City, Okla. This restaurant should open in April 1994."
 Maverick currently operates nine Grandy's restaurants and two Cotton Patch Cafes in three states. It also owns the rights to develop additional Cotton Patch Cafe Restaurants in certain parts of seven states.
 -0- 1/12/94
 /CONTACT: Chris F. Hotze, president, or Linn F. Hohl of Maverick, 316-685-8281/
 (MAVR)


CO: Maverick Restaurant Corporation ST: Kansas IN: LEI SU:

GK-PS -- NY043 -- 1429 01/12/94 12:33 EST
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Publication:PR Newswire
Date:Jan 12, 1994
Words:254
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