TORONTO, Nov. 2, 2004 (PRIMEZONE) -- International Menu Solutions Corporation (Other OTC:MENU) announces a comment to Strat Petroleum, Ltd. (Pink Sheets:SPRU) response to the take-over offer and gives a company update.
"We feel the offer made to SPRU's shareholders is fair and generous. It gives the shareholders, including MENU's shareholders, an exciting opportunity to grow within the petroleum sector immediately. Officials at Strat Petroleum have confirmed there are no other take-over offers despite rumors started on the chat board, Investors Hub. As stated before, 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," said Bill Akrivos, CEO and President of International Menu Solutions Corporation.
Mr. Akrivos also stated, "We see a continual increase in the price of oil and the FSU (former Soviet Union) will become a major developing market for the world's supply of oil. Our intentions are clear that we desire majority control of Strat Petroleum. This will bring immediate value to the shareholders by injecting the necessary capital and to give management direction to Strat Petroleum. The company's potential has not been properly exploited by current management leading to a depressed share price despite having a very strong external board of advisors. As part of the offer, two-thirds of the current board advisors must be maintained and will have an active role in Strat Petroleum after the take-over. We are planning on meeting with management late this week to discuss the offer. We are confident that Mr. Hyams will see the value of MENU, in which his board of directors will vote in favor of the take-over."
It is expected that if the take-over bid is successful then the total issued and outstanding common shares for MENU on December 15, 2004 will be 72,000,000 shares of which the STRAT shareholders will own 35% of MENU. 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.
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.
The board of directors of MENU has voted in favor of changing the company's name to Alpaca Resources, Inc. to reflect the change of business. MENU is expected to announce additional directors and the signing of institutional shareholders in the United States and Europe with experience in the development of petroleum projects in the FSU. A 15C-211 will be filed shortly to allow a better quotation of the stock.
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