CRCG- Creative Restaurant Concepts Inc. Message Board

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Non-Tech : CRCG- Creative Restaurant Concepts Inc.

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To: Cavalry who wrote ()	9/15/1998 4:19:00 PM
From: Cavalry	of 42

CRCG PRESS RELEASE FROM 7/23 RE AQUISITION AND STRATEGY Creative Restaurant Concepts Acquires 100% of Ground Floor Cafe Shares in Successful Tender Offer PR Newswire - July 23, 1998 13:49 OKLAHOMA CITY, July 23 /PRNewswire/ -- Creative Restaurants Concepts Inc., (OTC Bulletin Board: CRCG) today announced it has successfully completed the acquisition of 100 percent of Ground Floor Cafe Corporation through a tender offer. Ground Floor Cafes has Oklahoma City locations in Nichols Hills Plaza, Leadership Square and Mathis Brothers Furniture Store. "This acquisition is excellent news for our shareholders," said Joseph Johnston, president of CRCG. "Results continue to improve at Ground Floor's three Oklahoma City units with sales in June higher than any in the last 12 months. "We are evaluating an expansion of the Ground Floor Cafe concept through joint venture development or licensing," he added. After this acquisition, CRCG how has approximately 3.3 million shares of common stock outstanding. The company reported it is reviewing possible acquisitions of additional restaurant businesses. Creative Restaurants Concepts, Inc. is a multi-concept restaurant developer/operator based in Oklahoma City. This release contains certain forward-looking statements regarding the Company's expected performance in future periods and actual results for such periods may materially differ. Such forward-looking statements involve risks and uncertainties, including risks such as not receiving approval for the acquisition from Ground Floor Cafes' shareholders, risks of changing market conditions in the overall economy and food services industry, consumer demand, adequate financing and other factors detailed from time to time in the Company's annual and other reports filed with the Securities and Exchange Commission. SOURCE Creative Restaurant Concepts

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