Some time next week they"ll make an S-4 form with the details of mergers.
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Newriders Completes $1 Million Private Placement;
Director buys $1.0 million Convertible Debenture
Business Wire - June 11, 1998 15:15
%NEWRIDERS NWRD %CALIFORNIA %FOODS %BEVERAGES %RETAIL V%BW
P%BW
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--June 11, 1998--Newriders Inc.
(Nasdaq: NWRD) Thursday announced that it has received a $1.0 million cash
investment from Wayne L. Knyal, a director of the company.
Knyal purchased a $1 million convertible debenture under terms and conditions similar
to other offers the company was considering. The debenture is convertible into
common stock of the company, and the proceeds will be used for general working
capital requirements. This follows a similar $500,000 convertible debenture private
placement which was completed with an institutional investor in early May, 1998.
The company also said that it expects to file a Form S-4 Registration Statement with
the Securities and Exchange Commission within the next week, which will outline the
terms and conditions of the company's proposed business combination with Paisano
Publications Inc. and M&B Restaurants, L.C. (the El Paso Barbecue chain of
restaurants).
Statements made in this news release that relate to future plans, financial results or
projections, events or performance are forward-looking statements within the meaning
of Section 27A of the Securities Exchange Act of 1934, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, and fall under the safe harbor.
The company's actual results and financial position could differ materially from those
anticipated in the forward-looking statements as a result of a number of factors,
including but not limited to, successful execution of the company's expansion plans,
impact of competition, the availability of additional financing and other risks.
CONTACT: Newriders Inc., Newport Beach
Bill Nordstrom, CFO
714/718-4630
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