HALIFAX, Aug. 9 /CNW/ - PDM Royalties Income Fund (TSX: PDM.UN) and Pizza
Delight Corporation Ltd. announced today that Jim Ragas has been promoted to
Chief Operating Officer for Baton Rouge Restaurants effective immediately.
Mr. Ragas joined Baton Rouge in May 2004 and recently held the position
of Vice President of Development. In his new role, Mr. Ragas will oversee the
operations, marketing and franchise development functions for the Baton Rouge
chain of 18 restaurants. Jim has over 25 years experience in the restaurant
industry providing him a great wealth of knowledge for this position. The
chain's expansion continues with three restaurants currently under
construction and negotiations underway for an additional four locations to
open in late 2007 or early 2008. Jim Ragas will replace Gilles Pepin who has
accepted the position of Chief Business Development Officer and will report to
Ron Magruder, President and Chief Executive Officer.
Pizza Delight, Mikes, Scores and Baton Rouge restaurants are known for
providing good food and excellent value to their customers, which make them a
favourite among many Canadians.
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 Baton Rouge(R) brands and has licensed them to Pizza
Delight Corporation Ltd. (PDC) in consideration for a royalty equal to 4% of
system sales for Pizza Delight and Mikes, and in the case of Scores and Baton
Rouge, the royalty rate is 6%.
PDC 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 Baton 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.
Baton Rouge has operations in Quebec and Ontario in the high-end casual
For further information:
For further information: William Lane, CMA, Chief Financial Officer, PDM
Royalties Income Fund, (506) 853-0990, firstname.lastname@example.org; Or visit our web
sites: www.pdmfund.ca, www.pizzadelight.com, www.mikes.ca, www.scores.ca or