Business
Twister Networks, Inc. Reaches Agreement in Principal to Acquire Reynaldo's Food Manufacturer, Inc.
Twister Networks, Inc. Reaches Agreement in Principal to Acquire Reynaldo's Food Manufacturer, Inc..
About this update from Reynaldos Mexican Food Company, Inc.
[{"type":"text","content":"TWISTER NETWORKS, INC.\r\n19200 Von Karman Avenue\r\nSuite 600\r\nIrvine, California 92612\r\n949-679-6221\r\n\r\nPRESS RELEASE\r\n\r\nContact Person: Corporate Strategies, Inc.\t Symbol: Pink Sheets: RYNL \r\n\t\t 888-597-8308\r\n\r\nTWISTER NETWORKS, INC. REACHES AGREEMENT IN PRINCIPAL TO ACQUIRE REYNALDO'S FOOD MANUFACTURER, INC. \r\n\r\nIrvine, CA. March 9, 2005 - Jim Baiseri, Secretary and a Director of Twister Networks, Inc., announced today that the Company has reached an agreement, in principal, to acquire all of the stock of Reynaldo's Food Manufacturer, Inc. Full details of the acquisition have not been disclosed; however, the transaction is expected to close on or about April 1, 2005, subject to negotiation and execution of definitive transaction documents and standard closing terms and conditions.\r\n\r\nIn preparation for the closing of the proposed acquisition, Twister Networks, Inc. has changed its name to Reynaldo's Mexican Food Company, Inc. In addition, the Board of Directors and Shareholders approved a 1-for-40 reverse split of common stock. Both of these changes became effective on March 4, 2005. The trading symbol for the Company was changed to \"RYNL,\" also effective March 4, 2005.\r\n\r\nReynaldo's Food Manufacturer, Inc., the Downey, California - based company to be acquired has produced and marketed its lines of Mexican food products for over 20 years. Its product lines include frozen Burritos, Tacos and Gorditas, pork rinds, Chorizos and Mexican sausages known as Longanizas, Tortillas, Mexican cheeses and yogurts, and rice puddings and other desserts. It manufacturers its food products at seven plants located throughout Southern California. Its products are sold in most major supermarket chains throughout the Western United States and in many food specialty stores. For the fiscal year ended March 31, 2004 it had net sales exceeding $23 million. \r\n\r\nFor further information concerning Reynaldo's Mexican Food Company, Inc. and the pending acquisition, please contact: Corporate Strategies, Inc. at 888-597-8308 or [email protected].\r\n\r\n*********\r\nA number of statements referenced in this Release, and any other interviews that have been made, are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, an...