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Gold/Mining/Energy : HERITAGE CONCEPTS INTERNATIONAL INC / TSE
HCI 174.01-0.4%Jan 9 9:30 AM EST
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To: AriKirA who wrote (511)9/23/1999 1:10:00 PM
From: Dennis Lefebvre  Read Replies (1) of 601
 
Heritage sells master franchise rights

Heritage Concepts International Inc HCI
Shares issued 88,767,334 Sep 22 close $0.075
Thu 23 Sept 99 News Release
Mr. Richard Kennedy reports
Heritage Concepts International has sold a Grandma Lee's master franchise
for Ontario to Global Pursuits Inc.
This is part of the refocus on activities by Heritage Concepts, to properly
exploit its expertise in franchise support systems including real estate
and financing, and a greater emphasis on marketing, including ecommerce
possibilities. In accordance with this priority, Heritage Concepts sold the
Grandma Lee master franchise for Ontario which will immediately decrease
costs to the company by offloading operational responsibilities to the
master franchisee thus reducing the expenses of Heritage Concepts
significantly and allowing Heritage Concepts to take greater advantage of
its core business. The sale of the master franchise in conjunction with the
successful opening of the Great Canadian Soup Company flagship store at 330
Bay Street in Toronto, should positively impact the revenues for the
company, including increased rebates and franchise sales.
Global Pursuits, and its president, Ann Coombe, formerly a director and
officer of Heritage Concepts, has committed its financial and personal
resources to the successful redevelopment of Grandma Lee's and its retail
image. The restaurant's New-Country design is showcased in its newest store
in the Whitby Mall Shopping Centre.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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