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Microcap & Penny Stocks : Restaurant Teams International, Inc.-RTIN -- Ignore unavailable to you. Want to Upgrade?

To: KZAP who wrote (3303)	2/13/2001 2:15:52 PM
From: Tom C.	Read Replies (1) \| Respond to of 3351

News: biz.yahoo.com Tuesday February 13, 1:32 pm Eastern Time Press Release Restaurant Teams International, Inc. Reaches Agreement With Debenture Holders LONGVIEW, Texas--(BUSINESS WIRE)--Feb. 13, 2001--Restaurant Teams International, Inc. (``RTIN''), Longview, Texas, announced today that it has signed an agreement with the company's debenture holders to convert the remaining principal and accrued interest of its outstanding debentures to preferred stock. The principal amount remaining is less than $2 million. The debenture holders have agreed to a one year minimum price of $1.00 per share on any conversions of the preferred into common stock of RTIN, with additional limitations imposed thereafter. The conversion to preferred is part of an overall restructuring that contemplates the contribution of additional assets into RTIN in addition to the Kellys Coffee & Fudge franchise system. The purpose of the agreement was to induce W/F Investment Corp. to contribute the additional assets to RTIN within the next 90 days. Curtis A. Swanson, Chief Financial Officer stated, ``We appreciate the efforts that our debenture holders and W/F Investment have put into this matter. This transaction clears the way for us to grow RTIN and build shareholder value. We are looking forward to working with W/F Investment Corp. to bring acquisitions and to grow the company.'' Stanley L. Swanson, Chief Executive Officer stated, ``This transaction was the first step in clearing the way for us to revitalize the company. With the pending acquisitions and other opportunities being presented to the company, we have high hopes of restoring our shareholders value.'' Restaurant Teams International, Inc., dba RTIN Holdings, is a public holding company whose stock trades on the fully reporting NASD OTC BB. The Company, through a wholly owned subsidiary, owns and operates full service casual dining restaurants under the trade name Tanner's Corner Grill in Atlanta, GA, and one Street Talk Cafe restaurant in The Colony, Texas. This press release may contain 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, real estate zoning and permitting complications, government regulations, and general conditions in the restaurant market. -------------------------------------------------------------------------------- Contact: Restaurant Teams International Inc., Longview Curtis A. Swanson, 903/295-6800 CFO