VANCOUVER, British Columbia, April 29, 2005 (PRIMEZONE) -- UltraGuard Water System Corp. (OTCBB:UGRD) announces they have signed a Consulting Agreement with American Restaurant Development Company (American Restaurant) to identify opportunities in the Restaurant Franchising Industry.
In a recent Board of Directors meeting the Board voted to change its business model to restaurant franchising and to move UltraGuard's water disinfection technology into its 100%-owned subsidiary Innovative Fuel Technology Inc. (Innovative). The Directors are exploring opportunities for Innovative and will keeps its shareholders appraised of future developments.
With the expertise of American Restaurant, it is the intention of UltraGuard to acquire new innovative fast-casual and casual dining restaurant concepts, develop them into a profitable working design, and franchise them across the country. UltraGuard is developing a team that has extensive experience in the industry in relation to professional restaurant design, franchising, and restaurant management
American Restaurant is an innovator in growing existing restaurants and restaurant concepts into fully viable franchise systems and expanding these restaurant concepts nationwide. The management of American Restaurant has been active in franchising for over ten years. During that period they have opened, or have sold rights to others to open, over 1,000 restaurant units generating more than $400 million in cumulative sales. In doing so, American Restaurant has built a database of highly qualified franchisees and created systems and models to guide the franchises through their startup phase and ongoing operational processes. Recognizing that this knowledge and contact base was a valuable resource for new and expanding franchise organizations, American Restaurant set out to provide development services simultaneously across multiple concepts.
UltraGuard President, Kenneth Fielding, stated, "We am very optimistic that this agreement with American Restaurant will prove to be beneficial to our shareholders. I see 2005 as an exciting time for the shareholders of UGRD and look forward to introduction and development of concepts to come from American Restaurant. We see this as a positive move for our shareholders"
Special Note Regarding Forward-Looking Statements
"Safe Harbour Statement" under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to UltraGuard Water Systems Corp., Inc., except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, UltraGuard Water Systems Corp., Inc. extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.