PRESS RELEASEMerger Agreement • December 26th, 2001 • Interfoods of America Inc • Retail-eating places
MIAMI, FLORIDA -- December 24, 2001 ---- Interfoods of America, Inc. (OTCBB: IFDA.OB) today announced that it has entered into a definitive merger agreement with Interfoods Acquisition Corp., a corporation wholly-owned by Robert S. Berg and Steven M. Wemple, the chief executive officer and president, respectively, of the Company. Under the agreement, Interfoods Acquisition Corp. will merge with the Company which will be the entity surviving the merger. The stockholders of the Company (other than Messrs. Berg and Wemple, Interfoods Acquisition Corp. and stockholders of the Company who exercise their dissenters' rights under Nevada law) will receive unsecured, subordinated notes of the Company in the principal amount of $1.45 per share of Company common stock.
