Prior to acquisition of Cultures, the Company's restaurant division operated 18 corporately owned quick-service restaurant outlets and 248 franchised quick-service restaurant outlets in Canada under banner names as: Tiki Ming, Sukiyaki, La Cremiere, Veggirama, Caferama, Croissant + Plus, Panini Pizza Pasta, Franx Supreme, Au Vieux Duluth Express, Almadina and Chick n Chick, all quick service restaurants that tend to fare well during economic downwards. The acquisition will bring the Company's restaurant division's system-wide sales revenue to over $60 million, with over 290 outlets across the country.
Upon the disposition of the Company's wholly owned subsidiary Gold Tech Computer Systems Ltd., which was targeted to be in mid June of this year, the Company with over 4 million dollars cash after its most recent acquisition of Cultures, is continuously exploring and focusing its resources on growing the restaurant and franchise division through internal expansion and acquisitions.
On Behalf of the Board of Directors of
iNsu Innovations Group Inc.
Stanley Ma, Chairman, President & DirectorThe TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.