IFDG) International Food Products Group
(OTC BB: Chairman/CEO Mr. Richard Damion today announced that the
Board of Directors has authorized a program to repurchase an undisclosed
number of shares of the company's outstanding stock. The company will buy
back shares through both public and private channels at prices believed to
be appropriate and in the best interest of shareholders. The timing of the
buy back and the exact number of shares purchased will depend on market
conditions.
Commenting on the initiative, Mr. Damion stated, "Our decision to buy back
shares of IFPG stock is an expression of our confidence in the long-term
direction of the company. With the recent addition of our Golden Choice
Foods® Organic Harvest(TM) and Supreme Harvest(TM) lines of Freshly
Squeezed Pure Fruit Juices, and the continued sales growth of our Golden
Choice Foods® 100% Whole Bean Colombian Coffee in club stores nationwide,
the company is in an extremely positive position, and set to achieve strong
and sustainable growth for the future. We believe that our share price is
undervalued relative to the long-term prospects for the company. It now
makes sense for us to initiate a buy back program that allows us to realize
a more realistic market value for the company and its shareholders."
About International Food Products Group, Inc: IFPG is a public company
trading on the OTCBB with the ticker symbol "IFDG." The Corporate Offices
are at 170 Newport Center Drive, Newport Beach, CA, 92660.
www.goldenchoice.com. IFPG is the manufacturer and marketer of a variety
of food products including; Golden Choice 100% Columbian Roasted Coffees,
Golden Choice Organic Harvest(TM) and Supreme Harvest(TM) lines of Frozen
Fruits and Vegetables, and 100% Fresh Squeezed Pure Fruit Juices. Other
products include; "Got Fries®," Just Popped(TM), and other fine domestic
and imported food products.
Safe Harbor Disclaimer: Certain statements contained herein constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. Such statements
include, without limitation, statements regarding business and financing
plans, business trends and future operating revenues and expenses. Although
the Company believes that the expectations reflected in such statements are
reasonable, it can give no assurance that such expectations will prove to
be correct. Forward-looking statements are typically identified by the
words: believe, expect, anticipate, intend, estimate and similar
expressions, or which by their nature refer to future events You should
independently investigate and fully understand all risks before investing.
These descriptions of the Company contain forward-looking statements that
involve risk and uncertainties including, but not limited to, quarterly
fluctuations and results, the management of growth, competition and other
risks detailed in the company's SEC filings if any. Actual results may
differ materially from such information set forth herein.
For Further Information Contact:
Mairéad Howe
Global Media Relations Inc.
PO Box 1998
Newport Beach, CA 92663
Tel: (949) 910.6375
Email: Email Contact
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