For Immediate Release Toronto Stock Exchange: BPF.UN
BOSTON PIZZA INTERNATIONAL INC. ANNOUNCES PLAN TO EXCHANGE
UNITS OF BOSTON PIZZA ROYALTIES LIMITED PARTNERSHIP FOR UNITS OF BOSTON PIZZA
ROYALTIES INCOME FUND
VANCOUVER, B.C. November 19,
2012 – Boston Pizza International Inc. (“BPI”) announced today that it intends to
exchange 3,479,575 Class B units (“Class B Units”) of Boston Pizza Royalties Limited
Partnership for 1,000,000 units (“Fund Units”) of Boston Pizza Royalties Income Fund (TSX:
BPF.UN) (the “Fund”). The
proposed exchange is expected to be completed on or about November 23, 2012. Following the exchange, BPI intends to sell
the 1,000,000 Fund Units to the chairmen and owners of BPI and a related party.
BPI currently holds 10,299,107
Class B Units that are exchangeable for an aggregate of 2,959,875 Fund Units
or 16.9% of the Fund Units (on a fully-diluted basis), and there are 14,570,644
Fund Units outstanding. Following the
completion of the proposed exchange, BPI will hold 6,819,532 Class B
Units that will be exchangeable for an aggregate of 1,959,875 Fund Units or
11.2% of the Fund Units (on a fully-diluted basis), and there will be
15,570,644 Fund Units outstanding.
FOR FURTHER INFORMATION PLEASE CONTACT:
Boston Pizza Royalties Income Fund
Jordan Holm - Vice President of Investor Relations
Tel: 604-303-6083
investorrelations(at)bostonpizza.com
www.bpincomefund.com
® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trade-marks and unregistered Canadian trade-marks containing the words "Boston", "BP", and/or "Pizza" are trade-marks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.
© Boston Pizza International Inc. 2012
www.bpincomefund.com
Forward-Looking Information
Certain statements in this
press release may constitute “forward-looking” information that involve known
and unknown risks, uncertainties, future expectations and other factors which
may cause the actual results, performance or achievements of the Fund, Boston
Pizza Holdings Trust, Boston Pizza Royalties Limited Partnership, BPI, Boston
Pizza Holdings GP Inc., Boston Pizza GP Inc., Boston Pizza Holdings Limited
Partnership, Boston Pizza Restaurants, or industry results, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements.
When used in this press release, such statements use such words as
“will”, “intend”, “plan” and other similar terminology. These statements reflect current expectations
and assumptions regarding future events and operating performance and are
current only as of the date of this press release. These forward-looking statements involve a
number of risks, uncertainties and future expectations. The Fund’s annual information form dated
February 8, 2012 discusses some of the factors that could cause actual results
to differ materially from those expressed in or underlying such forward-looking
statements. Forward-looking statements
are made as of the date hereof and except as required by law, we assume no
obligation to update or revise them to reflect new events or
circumstances. See “Risks and
Uncertainties” in the Fund’s annual information form dated February 8, 2012.