CEO Thorburn and Board Member Lisker Exercise Options to Purchase AAFG Shares
April 1, 1999 08:30 AM
SOUTH PLAINFIELD, N.J., April 1 /PRNewswire/ -- American Food Group, Inc. AAFGQ announced today that CEO Andrew Thorburn and Board Member Tom Lisker are exercising their options to purchase shares in All American Food Group. Thorburn is purchasing 250,000 shares at the option price of 20c per share, and Lisker is purchasing 50,000 shares at the option price of 10c per share.
The cash portion of the purchase was paid in lieu of salary and fees, which had been owed to the two board members.
This action by Thorburn and Lisker reflect their optimism and conviction that the reorganization of AAFG will be successful. They believe the two previously announced business ventures -- the import and sales of frozen Brazilian lobster tails and other seafood products, plus the new Internet food store, commencing with "thegourmetpage.com" will lead the Company back to profitability.
AAFG is a food service business and franchiser of the Goldberg's New York Bagel Store, which filed for protection under Chapter 11 of the US Bankruptcy Code on November 30, 1998.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect," "should," "would," and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financing or operating) or achievements to differ from future results, performance (financing or operating) or achievements expressed or implied by such forward-looking statements. The above factors are more full discussed in the Company's SEC filings.
SOURCE All American Food Group, Inc. |
