• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

International Food Products Group Announce IFDG Stock Buy Back Program

Posted on: Monday, 24 April 2006, 09:01 CDT

International Food Products Group (OTC BB: IFDG) Chairman/CEO Mr. Richard Damion today announced that the Board of Directors has authorized a program to repurchase an undisclosed number of shares of the company's outstanding stock. The company will buy back shares through both public and private channels at prices believed to be appropriate and in the best interest of shareholders. The timing of the buy back and the exact number of shares purchased will depend on market conditions.

Commenting on the initiative, Mr. Damion stated, "Our decision to buy back shares of IFPG stock is an expression of our confidence in the long-term direction of the company. With the recent addition of our Golden Choice Foods(R) Organic Harvest(TM) and Supreme Harvest(TM) lines of Freshly Squeezed Pure Fruit Juices, and the continued sales growth of our Golden Choice Foods(R) 100% Whole Bean Colombian Coffee in club stores nationwide, the company is in an extremely positive position, and set to achieve strong and sustainable growth for the future. We believe that our share price is undervalued relative to the long-term prospects for the company. It now makes sense for us to initiate a buy back program that allows us to realize a more realistic market value for the company and its shareholders."

About International Food Products Group, Inc: IFPG is a public company trading on the OTCBB with the ticker symbol "IFDG." The Corporate Offices are at 170 Newport Center Drive, Newport Beach, CA, 92660. www.goldenchoice.com. IFPG is the manufacturer and marketer of a variety of food products including; Golden Choice 100% Columbian Roasted Coffees, Golden Choice Organic Harvest(TM) and Supreme Harvest(TM) lines of Frozen Fruits and Vegetables, and 100% Fresh Squeezed Pure Fruit Juices. Other products include; "Got Fries(R)," Just Popped(TM), and other fine domestic and imported food products.

Safe Harbor Disclaimer: Certain statements contained herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Such statements include, without limitation, statements regarding business and financing plans, business trends and future operating revenues and expenses. Although the Company believes that the expectations reflected in such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate and similar expressions, or which by their nature refer to future events You should independently investigate and fully understand all risks before investing. These descriptions of the Company contain forward-looking statements that involve risk and uncertainties including, but not limited to, quarterly fluctuations and results, the management of growth, competition and other risks detailed in the company's SEC filings if any. Actual results may differ materially from such information set forth herein.

 For Further Information Contact: Mairéad Howe Global Media Relations Inc. PO Box 1998 Newport Beach, CA 92663 Tel: (949) 910.6375 Email: Contact via http://www.marketwire.com/mw/emailprcntct?id=3B396BB3434C8D44  

SOURCE: International Food Products Group

Source: MARKET WIRE

More News in this Category