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Non-Tech : Floron Food Services (FFS) Alberta Stock Exchange -- Ignore unavailable to you. Want to Upgrade?

To: Hyeonmoo Lee who wrote (2)	10/13/1998 3:44:00 PM
From: teevee	Respond to of 3

Hi, Another release by Floron: Floron Food Services Limited Announces Share Repurchase Program EDMONTON, Oct. 8 /CNW/ - Floron Food Services Limited (FFS:ASE) announces that its board of directors has authorized the Company, subject to regulatory approvals, to purchase up to 200,000 Common Shares representing approximately 4.93% of its 4,057,600 issued and outstanding common shares pursuant to a Normal Course Issuer Bid. The Company has made the necessary application to the Alberta Stock Exchange for approval of the Bid. The Bid shall commence upon receipt of such regulatory approval and it is anticipated it will last for a period of one (1) year from such date. The Company believes that the underlying value of its Shares is not reflected in the current market price. All common shares purchased under the Normal Course Issuer Bid will be cancelled, thereby increasing the respective proportionate interests of all remaining shareholders. ''We believe that Floron's shares are in fact undervalued at the current price level given both our strong balance sheet and our cash flow from operations which continue to exceed anticipated forecasts'' said Ronald J. Coyle, President and CEO. ''This share repurchase program should help to further increase shareholder value and strengthen our ability to maintain a healthy investment climate for our shareholders''. Floron Food Services Limited, headquartered in Edmonton, Alberta is a company specializing in the food manufacturing and distribution business. Floron was founded in 1984 and has enjoyed steady growth during its history to the point where the company now distributes all required products for Boston Pizza franchises in Northern Alberta and is the exclusive manufacturer of meat sauce for all Boston Pizza franchises throughout Canada. The company operates out of a federally approved Agriculture Canada facility. This allows the company to operate on a national basis and, in the near future, expects to expand on an international basis.