GLOBAL PET FOODS TO EXPAND INTO UNITED STATES

    
    Stock Exchange: TSX Venture Symbol: FBI
    Outstanding Common Shares: 7,632,662
    

BRAMPTON, ON, Sept. 24 /CNW/ - (Franchise Bancorp Inc. - TSX Venture Exchange - FBI) - Edward K. Loyst, Chairman of Franchise Bancorp Inc. announced today that Global Pet Foods USA, Inc., had finalized the terms of a joint venture agreement to incorporate Canam Pet Foods, LLC in partnership with West Bay Drive LLC.

West Bay Drive LLC is a division of EKS Acquisitions Inc.

Canam Pet Foods, LLC will have master franchise license rights to open corporate and franchised stores in the North Eastern United States. The new company plans to open up to ten (10) Global Pet Food stores in 2010 and 2011. The president of the new company is Elliot Sasson of New York City.

Jim Walker, President of Global Pet Food Stores Inc. and Paul Thomson, President of Franchise Bancorp Inc., negotiated the joint venture agreement with EKS Acquisitions and will co-manage the rollout of Global Pet Food stores in the United States along with Mr. Sasson.

Global Pet Foods USA, Inc. is a newly incorporated Delaware corporation, and a wholly owned subsidiary of Global Pet Food Stores Inc., a division of Franchise Bancorp Inc.

There are currently 130 Global Pet Food stores in 9 provinces across Canada.

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For further information: Ted Loyst, Chairman or Paul Thomson, President, Franchise Bancorp Inc., Tel: [phone], Fax: [phone], Email: [email protected]