INTERNATIONAL MENU SOLUTIONS CORP
8-K, EX-99.1, 2000-12-20
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INTERNATIONAL MENU APPOINTS NEW CEO AND PRESIDENT

December 20, 2000 12:00 p.m. Eastern Time

TORONTO December 20 /PRNEWSWIRE/ - International Menu Solutions Corporation
("MENU") announced that, along with its subsidiary International Menu Solutions
Inc., it has appointed Ralph MacDonald as the President and CEO effective
December 19, 2000.

Mr. MacDonald succeeds Michael Steele as the Company enters a phase of
consolidation and integration efforts. Mr. Steele, the founder and a significant
shareholder of MENU, will continue as a Director of MENU.

Mr. MacDonald has recently served as an advisor to Mr. Steele and to the Board
of Directors. Mr. MacDonald brings 20 years of leadership and operating
experience to MENU. As founder, Mr. Steele indicated that he is pleased to have
Mr. MacDonald lead the Company through this phase of consolidation before the
planned refocusing of the Company's efforts on its growth strategy.

As part of the consolidation, MENU is seeking to eliminate certain redundant and
unprofitable assets, and to lower cost structures. The Company expects to
recognize certain one time costs associated with its consolidation efforts and
with SEC registration requirements.

MENU anticipates reporting a significant loss for Fiscal Year 2000 and resultant
non-compliance with certain financial ratio covenants in its credit agreements.
Through consolidation efforts, the Company will seek to improve the performance
of its operations.

MENU operates in the rapidly growing sector of the food industry known as Home
Meal Replacement (HMR) with its prepared fresh and frozen food and
appetizers. Since July 1998, MENU has grown through several acquisitions and
sales of its product lines with several leading food retail chains. The
Company's clients include several leading food retailers in Canada and the U.S.
Total gross sales of its prepared food product lines through food retail chains
and other channels of distribution are expected to be in excess of $80 million
(CDN) for 2000.

Certain statements contained in this press release do not relate strictly to
historical or current facts are "forward-looking" statements as defined in U.S.
federal law. Forward-looking statements us such words as "plans", "expects",
"will", "will likely result", "are expected to", "will continue", "is
anticipated", "estimate", "project", "believes", "anticipates", "intends",
"expects", "may", "should", "continue", "seek", "could", and other similar
expressions. Although the Company believes that its expectations are based on
reasonable assumptions, it can give no assurance that its expectations will be
achieved. The important factors that could cause actual results to differ
materially from those in the forward-looking statements herein (the "Cautionary
Statements") include, without limitation, the ability of the Company to
successfully implement its strategies and business plans, risks associated with
acquisitions and the integration thereof,

For further information contact Investor Relations at 416-366-MENU, ext. 231,
or email, [email protected].
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competitive factors and pricing pressures; relationships with manufacturers,
banks, and distributors; legal and regulatory requirements; general economic
conditions; as well as the other risks referenced from time to time in the
Company's filings with the Securities and Exchange Commission, including the
Company's Annual Report on Form 10-KSB for the year ended December 31, 1999. All
subsequent written and oral forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in their
entirety by the Cautionary Statements. The Company does not undertake any
obligation to release publicly any revisions to such forward-looking statements
to reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.


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