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Gold/Mining/Energy : HERITAGE CONCEPTS INTERNATIONAL INC / TSE -- Ignore unavailable to you. Want to Upgrade?

To: swot who wrote (552)	10/14/1999 3:48:00 PM
From: Vitalsigns	Read Replies (1) \| Respond to of 601

GCSC sold rights to franchise in europe...... Heritage Concepts International Inc - Heritage sells rights for the Great Canadian Soup Company Heritage Concepts International Inc HCI Shares issued 88,767,334 1999-10-13 close $0.05 Thursday Oct 14 1999 Mr. Richard Kennedy reports Heritage Concepts International has sold the Great Canadian Soup Company master franchise for Europe to Franz Gheysen. The Belgium-based company, Belcad Trading B.V., will operate under the name the Great Canadian Soup Company -- Europe. The purchase price is $1-million; Heritage expects that this sale shall generate in the next 12 months approximately $200,000 in revenue for the company. This is part of a refocus on activities by Heritage Concepts, to properly exploit its expertise in franchise support systems including real estate, financing, franchise support and marketing, including pursuit of e-commerce opportunities. In accordance with this priority, Heritage Concepts sold the Great Canadian Soup Company master franchise for Europe. The sale of the master franchisee will significantly improve the speed of growth path of the Great Canadian Soup Company by introducing the concept to markets not currently available to Heritage. The master franchise thus reduces the expense of Heritage Concepts and allows Heritage Concepts to take greater advantage of its core business. The sale of the master franchise in conjunction with the successful opening of the Great Canadian Soup Company flagship store at 330 Bay St. in Toronto, should positively impact the revenues for the corporation including increased rebates and franchise sales.