INTERNATIONAL FAST FOOD CORPORATION
Exclusive Developer and Franchisee of Burger King Corporation
for the Republic of Poland
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0000 Xxxxxxx Xxxx x Xxxxx 000 x Xxxxx Xxxxx, Xxxxxxx 00000 o (000) 000-0000
N e w s R x x x x x x
FOR IMMEDIATE RELEASE CONTACTS:
Xxxxxxxx Xxxxxxxx
November 10, 1997 Chairman of the Board
INTERNATIONAL FAST FOOD CORPORATION COMPLETES
PRIVATE OFFERING OF CONVERTIBLE SENIOR SUBORDINATED
DISCOUNT NOTES
MIAMI BEACH, Fla. -- International Fast Food Corporation, (OTC: FOOD),
announced that it sold approximately $27 million of 11% convertible senior
subordinated discount notes due 2007 through a private offering in which BT
Alex.Xxxxx, Incorporated acted as Placement Agent. The Company received net
proceeds of approximately $19 million.
The Company intends to use the net proceeds of the offering for the
development of new Burger King restaurants and Domino's Pizza stores in Poland
and for working capital and other general corporate purposes.
The notes (and the shares of common stock issuable upon conversion
thereof) have not been registered under the Securities Act of 1933, as amended,
or any state securities laws and, unless so registered, may not be offered or
sold in the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act
and applicable state securities laws.
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties or
other factors which may cause actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. For more
complete information concerning factors which could affect the Company's
results, reference is made to the Company's registration statements, reports and
other documents filed with the Securities and Exchange commission.
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