TORONTO, Oct. 27, 2004 (PRIMEZONE) -- International Menu Solutions Corporation (Other OTC:MENU) announced today that it has served the management of Strat Petroleum, Ltd. with a take-over bid circular. MENU has offered to purchase the outstanding common shares of Strat Petroleum, Ltd. on the basis of thirty (30) common shares of Strat Petroleum, Ltd. for one (1) common share of International Menu Solutions Corporation and on the basis of one (1) common share of Strat Petroleum, Ltd. for $0.012 per share.
The Offer is conditional upon there being validly deposited under the Offer and not withdrawn that number of Shares which will result in International Menu Solutions Corporation holding at least 51% and up to 65% of the issued and outstanding Strat Petroleum, Ltd. common shares on the Settlement Date. The Offer will be open for acceptance, until 4:00 p.m. (Eastern Standard time), December 15, 2004, unless extended, withdrawn or terminated. The take-over bid circular will be mailed to all shareholders of Strat Petroleum, Ltd..
Shareholders who wish to accept the Offer must properly complete and execute the accompanying Letter of Transmittal or manually executed facsimile thereof and deposit it, together with certificates representing their STRAT Shares in accordance with the instructions in the Letter of Transmittal. Shareholders whose STRAT Shares are registered in the name of a nominee should contact their broker, investment dealer, bank, trust company or other nominee for assistance.
It is expected that if the take-over bid is successful then the total issued and outstanding common shares for MENU on December 1, 2004 will be 72,000,000 shares of which the STRAT shareholders will own 35% of MENU.
"We are excited about our first acquisition candidate and we will meet with the management of Strat Petroleum in the very near future. This take-over bid will allow MENU to bring value to our shareholders at a reasonable discount," said Bill Akrivos, CEO and President of International Menu Solutions Corporation. "MENU has the resources and the people available to undertake acquisitions in this industry sector. Also, MENU has access to raising capital for future acquisitions and the ability to bring in key people to make the new acquisition successful."
MENU is a holding company looking to acquire oil and gas companies through mergers and acquisitions. MENU will concentrate its resources to pursue private and or public companies in this sector with the goal of taking a majority interest.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
ON BEHALF OF THE BOARD of International Menu Solutions Corporation