TSX Trading Symbol:''MTY''
MONTREAL, Nov. 29 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company"), franchisor and operator of over 1,700 quick service restaurants, announced that it has plan to amalgamate 5 of its subsidiaries, namely 7597878 Canada Inc. (operating as Country Style Food Services Holdings Inc.), 7597819 Canada Inc. (operating as Country Style Food Services Inc.), 7597959 Canada Inc. (operating as Buns Master Bakery Systems Inc.), 7597118 Canada Inc. (operating as Melody Farms Specialty Foods and Equipment Limited), and Mrs. Vanelli's Restaurants Limited, with MTY Tiki Ming Enterprises Inc.
The amalgamation will take place on November 30, 2010. It is designed to enable the Company to use the non-capital tax losses obtained in the acquisition of Country Style Food Services Holdings Inc. and its subsidiaries earlier and therefore enhance cash flows from operations in the short term.
Certain information in this News Release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this News Release. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Company's Management Discussion and Analysis, which can be found on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
MTY Food Group Inc.
Stanley Ma, Chairman, President & CEO
For further information: For further information:
For more information please contact Jean-Francois Dube, Investor Relations at 1-450-226-8475 or by email at firstname.lastname@example.org or visits our website: www.mtygroup.com or visit SEDAR's website at www.sedar.com under the Company's name.