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NEWS RELEASE PERFECT FRY CORPORATION For Immediate Release Perfect Fry Corporation - Normal Course Issuer Bid Calgary, AB June 23, 2004 - The Board of Directors of Perfect Fry Corporation has filed a notice to conduct a normal course issuer bid, commencing July 1, 2004 and expiring June 30, 2005. In the notice, the Corporation states its intention to purchase for cancellation up to a maximum of 489,432 common shares, representing 5% of all common shares issued and outstanding. As of June 27, 2004, there were 9,788,656 common shares issued and outstanding. This program is designed to allow the Corporation to purchase common shares in the normal course, when the Corporation estimates that the common shares are undervalued by the Market. These purchases are to be made through the facilities of the TSX Venture Exchange in accordance with its policy on normal course issuer bids. The price that the Corporation will pay for any common shares will be the market price at the time of acquisition to a maximum market price of $0.50 per share. Purchases may commence on July 1, 2004 and will terminate no later than June 30, 2005. Founded in 1985, Perfect Fry manufactures and markets state-of-the-art,
counter-top deep fryers, accessories and other peripherals. Markets
are now world-wide, encompassing and targeting that part of the
fast-food retail industry that specializes in popular, tasty deep-fried
foods at snack bars, food kiosks, sports and recreation outlets,
concession stands and convenience stores. The TSX Venture Exchange has neither approved nor disapproved
of the information contained herein Contact: Sharon Haasdyk |
