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Imvescor Restaurant Group Inc. (IRG)
Market: CDN Consolidated
$ 1.56
Oct 23, 2014, 12:15 AM EDT
Change: -0.04 (-2.50%)
Volume: 64,871
Day Low
1.56
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Imvescor Restaurant Group announces changes to Board of Directors

MONCTON, NB, July 13 /CNW Telbec/ - Imvescor Restaurant Group Inc. (IRG: TSX) announced today that the Honourable Herb Breau, a director of the Company, has been elected Chairman of the Board by the directors.

In addition to the election of Mr. Breau as Chairman, Mr. Léandre Cormier of Scoudouc, N.B., owner and CEO of West-Wood Industries Ltd., and Kevin Comeau of Bathurst, N.B., owner and President of KLC Management, have been appointed to the Board of the Company.

These appointments follow the resignations of Messieurs Rino Volpe, Jim Peterson, David Hawkins and Jacques Lemoine as Members of the Board of Directors, effective immediately.

The Company and the Board wish to express their gratitude to the departing Members of the Board. Their contribution in the conversion of PDM Royalties Income Fund from an income trust into a public corporation by plan of arrangement during a very difficult period during 2009 is recognized and it is the hope of the Board that the Company may benefit from their advice and assistance in the future.

Mr. Breau added that "IRG is a strong Company with solid Brands that will meet the challenges of the future. The Board will continue to work with Management to effect the changes necessary to build the earnings and growth of the Company."

About Imvescor Restaurant Group

Headquartered in Moncton, New Brunswick, Imvescor Restaurant Group owns franchised and corporate stores throughout Canada, under four brands: Pizza Delight(R) operates primarily in Atlantic Canada, where it dominates the family/mid-scale segment. Mikes(R) and Scores(R) restaurants operate primarily in Quebec in the family and casual dining segments and the take-out and delivery segments. Baton Rouge(R) operates in the Province of Quebec and Ontario in the casual dining segment.

Forward-Looking Statements

Certain information regarding Imvescor Restaurant Group contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees. The Company assumes no obligation to update such forward-looking statements, except as required by applicable securities laws. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

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