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To: Ga Bard who wrote (3487)	12/17/1997 11:12:00 PM
From: Frank Fontaine	Read Replies (2) of 8835

GLICF-NEWS: I got this courtesy of Cents: Wednesday December 17, 6:21 pm Eastern Time Company Press Release Heritage Secures Financing BURLINGTON, Ontario--(BUSINESS WIRE)--Dec. 17, 1997--Heritage Concepts International Inc. (TSE:GLI - news; OTC Bulletin Board:GLICF - news) is pleased to announce that the $900,000 financing on the 9.75 acre site has been completed and the proceeds used to retire all outstanding bank financing. Heritage Concepts has also received a letter of commitment from The Mutual Group for $2.5 million at 6.75 percent to refinance the plaza at Highway 5. As detailed in the new corporate vision discussed at the June 30th special shareholder meeting, $800,000 of this refinancing is targeted to fund the first stage of our planned development. At the annual shareholder's meeting, to be held on Thursday, December 18, 1997, Chairman Jerry Janik will discuss the great strides that have been made since the takeover on September 4th. As a company, Heritage Concepts is on track and rolling forward. The new financing will provide the capital necessary to further propel the company's growth. Two new Grandma Lee's Bakery and Restaurants have opened in Kitchener and Burlington to great reviews. Clear the Track and The 45th Street Carvery will begin construction in London, Ontario in early 1998. The first Great Canadian Soup Company will open in downtown Toronto in March 1998. We are currently in search of 12 new sites in the Kitchener and Downtown Toronto areas. Heritage is proud of its accomplishments since September and eagerly awaits the New Year. For franchise information please contact Sharron Armstrong at 905/634-4111 ext. 27. For investor information please contact Jerry Janik at 905/634-4111 ext. 30.

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