Perfect Fry enters popcorn machine business, acquires Calgary-based firm
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Hey there, time traveller!
This article was published 25/02/2008 (6478 days ago), so information in it may no longer be current.
CALGARY – Deep fryer maker Perfect Fry Corp. (TSXV:PNM) has acquired the hot air popcorn machine business of a private Calgary-based company holding the Freshpop trademarks for up to $495,000 plus stock.
Perfect Fry said Monday it has paid $125,000 in cash and $120,000 in shares and agreed to pay up to an additional $100,000 in 2009 and $75,000 in 2010, depending on sales of hot air popcorn machines reaching $1 million in 2009 and 2010. It will also issue 600,000 more shares if a new model hot air popcorn machine is successfully designed by November 1, 2008.
Freshpop machines include a coin-operated hot air popcorn vending machine and an automated theatre-concession style hot air popcorn machine.
Shares in Perfect Fry were untraded Monday at 23 cents on the TSX Venture Exchange.