NEWS -- NEWS -- NEWS
Tuesday September 8, 12:11 pm Eastern Time
Company Press Release
SOURCE: Fresh'n Lite, Inc.
Fresh'n Lite, Inc. Retains Corporate Finance Consultant and Explores Acquisitions
LONGVIEW, Texas, Sept. 8 /PRNewswire/ -- Fresh'n Lite, Inc. (OTC Bulletin Board: FLTT - news; FLTT) announced today that it has retained the services of a corporate finance consultant to seek out additional sources of financing and explore possible acquisitions.
The Company's management, along with its new consultant is currently exploring several possible acquisitions both for the growth of the company's Street Talk Cafe concept as well as additional concepts with potential for expansion and development.
Additionally, the company's board is reviewing terms of an asset backed loan, the proceeds of which will be used to pay off the company's current bank debt and redeem out the debenture funding it received in May of 1998.
Curtis A. Swanson, Chief Financial Officer of the Company stated: ''We are very excited about the relationship we have developed with our new corporate finance connection. We have already moved forward with the process of securing the asset backed loan to pay off our existing bank debt and to redeem out our previously announced debenture. It is the board's view that this is the best move the company can take at this time in order to avoid dilution of our current shareholders.''
Henry Leonard President and Chief Operating Officer stated: ''We have a significant opportunity to greatly expand our Street Talk Cafe presence in the Dallas, Texas market. Strategically, we are also taking a hard look at concepts we feel will compliment our existing concept with the goal of positioning ourselves for the most profitable future growth and increasing shareholder value. The synergies of prudent acquisitions at this time are extensive. There will be further announcements with respect to these matters as they develop.''
Fresh'n Lite, Inc. is the developer and operator of the Street Talk Cafe and Fresh'n Lite Cafe & Grill concepts, full service casual dining concepts featuring over 100 choices of low fat and non-fat menu items without compromising taste, service, or atmosphere.
This press release contains forward looking statements, which are generally preceded by words such as ''believes'', ''expects'', ''anticipates'', or ''intends''. Such statements are subject to risks and uncertainties, including but not limited to competitive conditions, weather, real estate zoning and permitting complications, and general conditions in the restaurant market.
For further information contact: Curtis A. Swanson, Chief Financial Officer at 1-800-259-2675.
SOURCE: Fresh'n Lite, Inc.
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