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

To: falcon74 who wrote (351)	12/22/1998 9:28:00 AM
From: MoneyBaggs	Read Replies (1) \| Respond to of 3351

Related Quotes RTIN 2 5/8 +0 delayed 20 mins - disclaimer Tuesday December 22, 9:01 am Eastern Time Company Press Release SOURCE: Restaurant Teams International, Inc. Restaurant Teams International, Inc. Announces $13,000,000 Financing Commitment LONGVIEW, Texas, Dec. 22 /PRNewswire/ -- Restaurant Teams International, Inc. (OTC Bulletin Board: RTIN - news) today announced it has received a commitment letter for $13,000,000 in debt financing from Prime Capital for the acquisition and expansion of the Old San Francisco Steak House chain. Henry Leonard, President and Chief Operating Officer stated: ''We are very excited about this new relationship and to be working with our new lenders at Prime Capital. We chose this source because they are experienced in helping companies such as RTI grow and are equally committed to our deadline requirements.'' The Old San Francisco Steak House transaction is still scheduled to close in December 98'. The Company also announced that it is currently notifying its representatives at the American Stock Exchange of the closing to request a final review for listing. Curtis Swanson, Chief Financial Officer of the Company stated, ''We are very excited to be in a position to acquire the Old San Francisco chain without having to sell equity or create dilution to our current shareholders. The credit made available to us gives us the funds necessary to acquire the chain and grow our two concepts. We're now looking forward to finalizing the transaction and getting our stock listed on the American Stock Exchange.'' Restaurant Teams International, Inc. is the developer and operator of the Street Talk Cafe and Fresh'n Lite Cafe & Grill concepts. Both concepts are full service casual dining operations that feature a variety of foods along with many choices of non-fat and low-fat menu items without sacrificing taste, service, value or atmosphere. This press release contains 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, weather, real estate zoning and permitting complications, and general conditions in the restaurant market. For further information contact 1-800-259-2675. SOURCE: Restaurant Teams International, Inc