MONCTON, Aug. 27 /CNW/ - PDM Royalties Income Fund (the "Fund")
(TSX: PDM.UN) announced that James Peterson has been appointed as a Trustee to
replace David Hawkins who resigned due to his appointment as a Director of
Brian Flemming, Chairman of the Fund, on behalf of the Fund and the
Unitholders, would like to congratulate Mr. Hawkins on his recent appointment
and thank him for his valuable service. Mr. Flemming also expressed that "Jim"
will be a great asset to the Board with his vast background and knowledge.
Jim Peterson was the Member of Parliament for Willowdale for 23 years and
served as Chair of the Finance Committee, Secretary of State for International
Financial Institutions and Minister of International Trade. Prior to public
life, he taught International Business and Investment at the University of
Toronto's Faculty of Law; and undertook major studies for the United Nations
Industrial Development Organization.
He earned a B.A. and LL.B. from Western University, an LL.M from Columbia
and a D.C.L. from McGill University. Today, he is counsel to Fasken Martineau,
with offices in six Canadian cities, Johannesburg and London and serves as
Ontario's Lead Negotiator with Quebec on reducing barriers to trade,
investment and labour mobility.
PDM Royalties Income Fund (the "Fund") is a limited purpose open-ended
trust established under the laws of Ontario. The Fund makes monthly
distributions of its available cash to holders of units. The Fund indirectly
owns the trade marks and intellectual property for the Pizza Delight (R),
Mikes (R), Scores (R), and Bâton Rouge (R) brands and has licensed them to
Imvescor Inc. in consideration for a royalty equal to 4% of system sales for
Pizza Delight and Mikes, and in the case of Scores and Bâton Rouge, the
royalty rate is 6%.
Imvescor Inc. is a privately owned corporation, headquartered in Moncton,
New Brunswick. It operates franchised and corporate restaurants under the
brand names Pizza Delight, Mikes, Scores, and Bâton Rouge restaurants.
Pizza Delight operates primarily in Atlantic Canada, where it dominates
the family/mid-scale segment. Mikes and Scores restaurants operate primarily
in Quebec in the family and casual dining segments and the take-out and
delivery segments. Bâton Rouge has operations in Quebec and Ontario in the
high end casual segment.
For further information:
For further information: William Lane, CMA, Chief Financial Officer, PDM
Royalties Income Fund, (506) 853-0990, email@example.com