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
