PITTSBURGH, Aug. 16, 2013 /PRNewswire/ -- Unique Pizza
and Subs Corporation (OTC Markets Groups Inc.: OTC Pink: UPZS-News)
a Delaware Corporation, is pleased to announce it has come to an
agreement to convert 96% of all their debt into restricted,
controlled (a person or entity that owns more than 10% of the
issued stock or a person that has an executive position in the
company) stock. $4,933,050 worth of
debt will be converted into restricted stock, this accounts for
over 96% of all of the outstanding debt. Unique Pizza and Subs also
announces it has mutually agreed to terminate its deal to acquire
Pizza Fusion.
James Vowler President and CEO of
Unique Pizza and Subs Corporation said, "Converting the debt into
to restricted stock, removes more than 96% of the overall debt and
is another big step in allowing Unique to grow into the world wide
publicly traded company it was designed to be. It is a shame we
could not finalize the deal with Fusion at this time, but we wish
them the best and look forward to hopefully working with them in
the future."
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
27E of the Securities Act of 1934. Statements contained in this
release that are not historical facts may be deemed to be forward-
looking statements. Investors are cautioned that forward-looking
statements are inherently uncertain. Actual performance and results
may differ materially from that projected or suggested herein due
to certain risks and uncertainties including, without limitation,
ability to obtain financing and regulatory and shareholder approval
for anticipated actions.
SOURCE Unique Pizza and Subs Corporation