SOURCE: Donini, Inc.

May 16, 2007 11:36 ET

Donini Inc. (PINKSHEETS: DNNI) Reaches Agreement for Franchise Expansion in Toronto and Begins Talks for Expansion of Product Offerings

MONTREAL -- (MARKET WIRE) -- May 16, 2007 -- Donini Inc. (PINKSHEETS: DNNI) is pleased to announce that the company's expansion plans are continuing to move ahead. "The company is negotiating an area development agreement with Meadow Vista Financial Corp. to develop a franchise network for Donini in the GTA (Greater Toronto Area)," said Mr. Deros. "The GTA represents a major market for Donini and we look forward to introducing our pizza products to Canada's largest metropolitan center. The Toronto market has a population of well over 5,000,000 people and we think we can easily open up to 8 stores in our first year with a move to up to 30 stores over five years."

"Meadow Vista Financial Corp is committed to the project," commented Carol McKeown, President of Meadow Vista Financial Corp. "We are very excited with the pizza donini products and we expect that it will do very well in the Toronto market."

Furthermore, Mr. Deros commented that "Donini is in negotiation with other large and established food retailers to work out a possible joint venture or business combination. We think that twinning our product offering with an established fast food vendor will give us added value in our existing and new markets. Our expectation is that we will be able to announce additional information on the nature of the business relationship with one of these potential partner very soon."

In closing, Mr. Deros added, "Donini is committed to delivering results to shareholders. Donini is targeting over $15 million in sales in fiscal 2008 and we intend to accomplish this by moving quickly to solidify our position in the restaurant market in Montreal, Toronto, Newark and New York City . This growth plan could be further enhanced by a large acquisition or business combination."

SAFE HARBOR STATEMENT

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by the Company.

Contact Information

  • For further information please contact:
    Peter Deros
    President Donini Inc.
    514-327-6006(O)
    514-892-6070(C)
    pderos@pizzadonini.com