WHITTIER, April 21, 2003 (PRIMEZONE) -- Pop N Go, Inc., (OTCBB:POPN) announced today that it has signed a Letter of Intent to acquire a 50% equity position in Microwave Roasters Inc. (www.microwaveroasters.com)
Microwave Roasters Inc. produces unique, third-generation microwave snacks using patented technologies. The first product, Peanut Roasters, enables consumers to take peanuts from raw to fresh roasted in two to three minutes in one's own home or office. Two new products were launched in 2002, MicrOrings, a microwavable onion rings snack, and Micro Bak'n, a microwavable bacon-flavored chip similar to pork rinds. Both of the new products "pop" in the microwave in 40-50 seconds, producing snacks which are fresh, tasty, fun and almost fat-free. Microwave Roasters' products are sold in some of the largest retailers in the U.S. and Mexico.
Steven Grossman, President of Microwave Roasters, stated" We have been looking for the right strategic alliance for some time. We are impressed with the quality of Pop N Go flagship popcorn vending machine which offers a freshly prepared healthy snack to the "out of home" consumer. Microwave Roasters' snacks will complement Pop N Go's snack offerings by providing today's smart consumer with economical, tasty and healthy snacks that can be prepared quickly at home. Microwave Roasters is at the same stage of development as Pop N Go in many respects. Our Companies' products have proven themselves with major retailers and consumers alike paving the way to an explosive growth phase in the near future."
"We are pleased to be able to add Microwave Roasters' quality line of products to Pop N Go's snack lineup. There is a natural synergy between the Companies, which we expect will pay off in many ways for Pop N Go We are looking forward to the introduction of several new products that are under development by Microwave Roasters. These new snacks will result in a complete lineup of microwavable snacks that will compete strongly with the microwave popcorn market. We expect soon to see Microwave Roasters' products sold everywhere that microwave popcorn is now sold," stated Mel Wyman, CEO of Pop N Go.
About Pop N Go, Inc.
Pop N Go produces a unique hot air popcorn machine, capable of delivering single servings of fresh hot popcorn, which meets the demands of today's market. The company's self-contained equipment produces fresh popcorn for each customer while allowing the customer to watch the entire popping process. Pop N Go's machine is sized to fit almost anywhere (2'x2'), and can be used as a stand-alone vending machine or in a manual mode for traditional foodservice applications. Pop N Go's FlixStix Division produces the only single serving popcorn flavoring, which expands Pop N Go's brand into the home consumption market. More information about Pop n Go can be found at www.popngo.com.
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission. Nothing in this press release shall be construed as an offer to buy or sell any securities herein.