Hiru Corporation (HIRU) Completes Reorganization
BEIJING, China, Dec 15, 2008 /PRNewswire-FirstCall via COMTEX/ -- Hiru Corporation (HIRU.PK) The company announced today that it has begun preparations to become an actively operating Company.
Interim management changes will see Heidi Chomatil, President and Devon Andrade, Secretary, stepping down as officers and directors of the Company. Mr. Keith Roberts has been appointed as interim corporate Secretary, President and CEO.
The Company has retained a corporate advisory firm to assist it in the process of acquiring a new operating Company, of which two short-listed candidates are currently under consideration. An aggressive target of identifying a target company and closing the acquisition by the end of the 1st quarter of 2009 has been established.
The Company is also in the process of updating its Pink Sheet information, and will be addressing the current 'caveat emptor' disclosure rating as soon as a reverse merger is complete and new permanent management installed.
The Corporation has, until recently, carried on business as the Phoenix Restaurant Group, Inc., and was previously one of the largest franchisors of the popular Denny's restaurants in the U.S.
The company will continue to report its progress to keep shareholders advised of new developments. It expects to make further announcements in this regard shortly.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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