latest news releases from the newsroom
Church's Chicken(tm) Franchisee Purchases 35 Restaurants; Signs Agreement to Build Additional 14 Units
ATLANTA, Jan. 15, 2003 (PRIMEZONE) -- Church's Chicken, a division of AFC Enterprises, Inc. (Nasdaq:AFCE), announces the completion of a deal with WETCO Restaurant Group, LLC, to convert 35 company-operated restaurants throughout Louisiana, into franchise ownership. WETCO Restaurant Group, LLC is owned and operated by businessman W. E. "Bill" Tucker, Jr. of Baton Rouge, Louisiana. This purchase brings the total number of WETCO-owned and operated Church's Chicken restaurants to 39.
Modern Times Group MTG AB: Finans Vision Proposed Closure
STOCKHOLM, Sweden, Jan. 15, 2003 (PRIMEZONE) -- Modern Times Group MTG AB (Nasdaq:MTGNY) (Other OTC:MTGNF), the international media group, today announced that it has contacted the Journalists' Union with regard to the proposed closure of its Swedish daily financial newspaper, Finans Vision. MTG set a number of milestones for the newspaper to be measured against when it was launched in March 2002, in terms of readership and advertising sales growth. The newspaper has not achieved these milestones and management therefore proposes to close down the business. Closure would result in MTG making a full provision of in the region of SEK 85 million in the financial results for the fourth quarter of 2002, to include all costs arising from the closure of the newspaper.
BioCurex Inc. Announces Company's Consideration of 'Certificate Only' Trading as Part of an Overall Re-Structure Initiative
RANCHO SANTA MARGARITA, Calif., Jan. 15, 2003 (PRIMEZONE) -- BioCurex Inc. (OTCBB:BOCX) announced today that it is considering a strategy which includes the possible adoption of "custody only" or "certificate only" trading of its shares as a measure to protect naked short selling of the company's stock. The Company continues to be concerned about what it perceives as an artificially depressed stock price. Dr. Moro, President of BioCurex, states, "We are one of very few young biotechnology companies with products available and we have a superb technology platform for diagnostic and therapeutic management of cancer. We also have issued patents, regulatory approvals in North America and distributors for our first products. Further, our continued development of a blood test for cancer detection is progressing well and we have recognition of our RECAF technology in a licensing agreement. The hard cash investment that went into the company to achieve all this progress is several times higher than the company's market capitalization. Therefore, we are frustrated by what we believe to be 'naked shorts,' which have driven down our valuation substantially. We are beginning to institute an overall restructure our company in order to maximize the shareholder value and financing opportunities." Within this context, the company has accepted Dr. P. Slowey's resignation as our CEO while working on a consultancy arrangement for sales and business development.
Kansas State University Selects Virage for Digital Library
SAN MATEO, Calif., Jan. 15, 2003 (PRIMEZONE) -- Virage, Inc. (Nasdaq:VRGE), a leading provider of video and rich media communication software, today announced that Kansas State University (K-State) has implemented Virage software to establish the University's first digital library. As part of an initiative to provide campus-wide portal access to the entire K-State community, the K-State Library was tasked to implement a digital repository with key University media assets. The first phase involves transforming more than 30 years of audio and video recordings of the Alfred M. Landon Lecture Series on Public Issues to the web. Leveraging the Virage publishing software, the K-State digital library will also offer online access to the lecture series as well as to classroom and other reference content.