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Reynaldo's Mexican Food Company Llc
Twister Networks, Inc. Reaches Agreement in Principal to Acquire Reynaldo's Food Manufacturer, Inc.
Business
Mar 9 2005
5 min read

Twister Networks, Inc. Reaches Agreement in Principal to Acquire Reynaldo's Food Manufacturer, Inc.

TWISTER NETWORKS, INC. 19200 Von Karman Avenue Suite 600 Irvine, California 92612 949-679-6221 PRESS RELEASE Contact Person: Corporate Strategies, Inc. Symbol: Pink Sheets: RYNL 888-597-8308 TWISTER NETWORKS, INC. REACHES AGREEMENT IN PRINCIPAL TO ACQUIRE REYNALDO'S FOOD MANUFACTURER, INC. Irvine, 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. In 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. Reynaldo'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. For 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]. ********* A 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, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumption of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this actions may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may, "could," or "might," occur. Such statements reflect the current views of Reynaldo's Mexican Food Company, Inc. with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors described in the Company's public disclosure documents. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company does not undertake any responsibility to update the "forward-looking" statements contained in this news release.