All American Food Group Signs $3 Million to $5 Million Import Contract
SOUTH PLAINFIELD, N.J., Dec. 2 /PRNewswire/ -- All American Food Group,
Inc. (OTC Bulletin Board: AAFG), in an effort to diversify its revenue
sources, has entered into a joint venture with Interbras Global Trading Co.,
Ltd., to assist in importing Brazilian seafood. This agreement shall generate
sales revenues to AAFG of approximately $3 million to $5 million over the next
fifteen months.
AAFG will purchase, distribute, and enter into distribution agreements in
the United States for the sale of a minimum of 15 containers of seafood
products, including frozen Brazilian lobster tails and other specialty seafood
products. The import of these products will increase revenues to the Company
and also benefit AAFG by greatly expanding its existing food distribution
business and product lines.
Andrew Thorburn, AAFG's President/CEO, has stated that this agreement is
the first of several planned steps in the reorganization and expansion of
AAFG's food product business operations. This new venture will greatly
increase the Company's revenues and operating results, and the additional cash
flow will assist the Company in financing other projects and accelerate the
Company's reorganization.
Except for the historical information herein, the matters discussed in
this press release includes forward-looking statements that may involve a
number of risks and uncertainties. Actual results may vary based upon a
number of factors, including, but not limited to, risks in product and
technology development, market acceptance of new products and continuing
demand, the impact of competitive products and pricing, changing economic
conditions and other risk factors detained in the Company's most recent annual
report and other filings with the Securities and Exchange Commission.
SOURCE All American Food Group, Inc.
-0- 12/02/98
/CONTACT: Tom Lisker of Lisker Gedney Stover, 914-376-6767; or Andrew
Thorburn of All American, Food Group, 800-776-5940/
(AAFG)
CO: All American Food Group, Inc.; Global Trading Co., Ltd.
ST: New Jersey; Brazil
IN: FOD
SU: CON
AK
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