VANCOUVER, April 23 /CNW/ - April 23, 2007. Elephant & Castle Group Inc.
(the "Company") (OTCBB - PUBSF) and Repechage Investments Limited today
announced the completion on Friday, April 20, 2007 of the plan of arrangement
(the "Arrangement") under the Business Corporations Act (British Columbia)
approved by the British Columbia Supreme Court on March 14, 2007.
Pursuant to the Arrangement, Repechage Restaurant Group Ltd.
("Repechage"), a wholly-owned subsidiary of Repechage Investments Limited has
acquired all of the outstanding securities of the Company.
About Repechage Investments Limited
Repechage Investments Limited is an investment company formed under the
laws of Canada that holds investments in the transportation, service and real
estate sectors. Repechage Investments Limited is closely held with a majority
of its shares being held by David L. Dobbin and members of his family.
About the Company
The Company is the premier operator and franchisor of authentic
British-style pubs with 24 locations throughout North America.
This news release (as well as information included in oral statements or
other written statements made or to be made by the Company) may contain
forward-looking statements, such as statements relating to future expansion,
that involve risks and uncertainties relating to future events. Actual events
or the Company's results may differ materially from the results discussed in
the forward-looking statement. The Company does not expect to update
forward-looking statements continually as conditions change. These risks and
uncertainties include, but are not limited to, those relating to competition,
fluctuations and changes in consumer preferences and attitudes, intellectual
property protection, development and construction activities. Investors are
referred to the full discussion of risks and uncertainties associated with
forward-looking statements contained in the company's Form 10-K filed with the
Securities and Exchange Commission for the fiscal year ended December 31st,
For further information:
For further information: Elephant & Castle Group Inc., 12h Floor, 1190
Hornby Street, Vancouver, BC, V6Z 2K5, Ph: (604) 684-6451, Fax: (604)
684-8595; Repechage Investments Limited, Suite 503, Box 245, 5657 Spring
Garden Road, Halifax, NS, B3J 3R4, Ph: (902) 444-3056, Fax: (902) 444-3063