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PHOENIX--(BUSINESS WIRE)--Dec. 3, 2004-- BGR Corp. (OTCBB: BGRN - News) today announced the filing of a Definitive 14C Information Statement with the Securities and Exchange Commission on Nov. 29, 2004 to inform the company's shareholders of a special meeting scheduled for Dec. 16, 2004, at which a number of proposals to amend the company's Articles of Incorporation will be considered including an amendment that would change the name of the company to Franchise Capital Corp.
"Management believes that the changes to be considered at the upcoming shareholders meeting are critical to the future of the company and are expected to allow us to move forward and effectively execute the company's business plan. Concurrently we are planning a stepped-up investor awareness campaign, which will more consistently disseminate material information on the company's operations and activities," commented Brad Miller, chief executive officer of BGR Corp.
In addition to the name change, shareholders will consider amendments to increase the authorized shares of capital stock of the company; to effect a one-for-ten reverse split of common stock; to authorize the company's board of directors, without the consent of the stockholders, to adopt any recapitalization affecting the outstanding shares of capital stock of the corporation; to approve the issuance of warrants to purchase shares of the company's common stock, which were previously issued; and to approve of the company's Stock Option Plans.
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