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Microcap & Penny Stocks : TFRY (was FRYA) Tasty Fries, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Martin Olsen who wrote (1227)	4/30/1998 11:33:00 AM
From: Joe Griffin	Respond to of 2405

Tasty Fries, Inc. Secures $1.5 Million Private Financing Company has reacquired distributorship in parts of U.S. and Europe BLUE BELL, Pa., April 30 /PRNewswire/ -- Tasty Fries, Inc. (OTC Bulletin Board: TFRY - news), a development stage company which has commenced the commercial production of its proprietary French fry vending machines, announced today that it has secured a $1.5 million financing from a private investor. Terms of the agreement were not disclosed. ''This financing is extremely exciting because it guarantees the completion of our initial production units,'' said Edward C. Kelly, president and chief executive officer of Tasty Fries, Inc. ''In addition, it will allow us to aggressively expand our marketing efforts.'' The Company also announced that is has reacquired its distributorship for much of Europe, including Switzerland and Germany, in addition to 23 states in the U.S. The rights were held by Gainey Resources Ltd. (formerly known as Yukon Spirit Mines Ltd.), a distributor that did not specialize in the food service or vending industry. ''This was a major step for the Company in going forward, because we have now eliminated our third-party distribution which was signed by Tasty Fries' previous management,'' added Kelly. ''Now we have increased our flexibility in terms of being able to market our machines.'' The Tasty Fries(TM) vending machine is a revolutionary advance -- one of the first multi-patented vending machines to prepare, cook and dispense French fries with the flavor, aroma and texture of freshly cut French fries. Total vend time is a little less than one and a half minutes. Tasty Fries are made from a top-quality Idaho russet potato and cooked in cholesterol-free oil using a patented state-of-the-art robotic technology. The machines are expected to be located in high-traffic locations such as universities, airports, bus and train stations, schools, military bases, theaters, work areas and recreational venues. Except for any historical information contained herein, the matters discussed in this press release contain ''forward looking statements'' that involve risks and uncertainties which are described in the Company's SEC reports. SOURCE: Tasty Fries, Inc.