SOURCE: Smoky Market Foods, Inc.
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March 25, 2008 09:00 ET
Smoky Market Foods Excited Brokers at FSX1 Conference; Creates Financing Facilities
CEO Announces Update and Operating Plans Based Upon Expected Financing
APTOS, CA--(Marketwire - March 25, 2008) - Smoky Market Foods, Inc. (OTCBB: SMKY) became a
public company in September 2007 through a self-registration process and
not through a reverse merger with a shell company. The sole purpose for
SMKY to become a public company was to position itself to secure large
scale financing to grow its branded operations nationally and
internationally, which requires millions of capital dollars. "Since SMKY
has been public, we have successfully endeavored to set up our entire
production and marketing operation to ready our business for nationwide
operations. As a result of our exciting presentation at the Dallas FSX1
broker-dealer conference in January, certain financing facilities have been
arranged that we believe will materialize in the very near future to
provide us with the required operating capital to continue our launch of
operations," CEO Edward Feintech said.
With proceeds from its anticipated financing that includes capital from
principally structured private equity sales of its common stock, Mr.
Feintech said, "We expect the Company will be financed to continue the
execution of our operating plan to launch Internet sales targeted toward
the 12 million RV users in the country, the opening of our pilot
restaurant-store in Los Gatos, CA, and at least one 150 s/f kiosk well in
time for the summer season. Navigating the dynamics of being a public
company and establishing our company with the right financial resources is
a definite process; it takes a few months to create real and viable
financing relationships and the FSX1 broker conference was a great venue
for us," Mr. Feintech said. Mr. Feintech's 20-minute video talk and
PowerPoint presentation from the FSX1 conference are available for viewing
on the homepage of the Company's web site (www.smokymarket.com).
SMKY's web site is currently being upgraded to include the new summer menu
items and additional products and services for RV camping, dining,
catering, and gift-giving. "Our new web site is expected to be ready for
full on-line ordering operation by June 2008," Mr. Feintech said. Visitors
to the web site may still view product and securities information, and
order smoked salmon fillets to sample.
SMKY is currently developing its pilot restaurant-store in Los Gatos, CA,
which will serve as a training store for expansion within the respective
northern California region. Mr. Feintech said, "Our first store, though a
smaller size, is going to be a showcase unit, offering full-service dining,
take-out, catering, and retail display of packaged foods. When our
financing comes into place, our plan is to open a total of 30 such stores
during the following 12 months. Many of our stores will be pre-fabricated
buildings that require only 45 days to install for operation," he
continued. The typical SMKY restaurant-store is projected to average from
$825,000 to $1.2 million in annual revenue depending upon the size of store
and venue.
About Smoky Market Foods
Smoky Market Foods, Inc. is a development stage Company that produces a
complete line of fully cooked Smoke-Baked foods through a unique
wood-burning oven system. Because of its proprietary wood-burning oven
technology, the Company's Smoke-Baked products are believed to be truly
healthful as they are prepared the old-fashioned way, without the use of
any additives or chemical preservatives. Smoky Market Foods, Inc. intends
to build a national chain of Smoky Market® restaurant-stores and
self-contained kiosks that do not cook raw food on site.
Forward-Looking Statements
Statements in this news release regarding future financial and operating
results, future growth in research and development programs, potential
applications of our technology, opportunities for the company and any other
statements about the future expectations, beliefs, goals, plans, or
prospects expressed by management constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Any statements that are not statements of historical fact (including
statements containing the words "will," "believes," "plans," "anticipates,"
"expects," "estimates," and similar expressions) should also be considered
to be forward-looking statements. There are a number of important factors
that could cause actual results or events to differ materially from those
indicated by such forward-looking statements, including: limited operating
history, need for future capital, risks inherent in the development and
commercialization of potential products, protection of our intellectual
property, and economic conditions generally. Additional information on
potential factors that could affect our results and other risks and
uncertainties are detailed from time to time in the company's periodic
reports, including the report on Form 10-QSB for the quarter ended
September 30, 2007. Forward-looking statements are based on the beliefs,
opinions, and expectations of the company's management at the time they are
made, and the company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions, expectations, or
other circumstances should change.
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