Pizza Delight Corporation Ltd. Files Notice of Intention to Buy Up to 350,000 Units of PDM Royalties Income Fund


MONCTON, NB, Dec. 4 /CNW/ – Pizza Delight Corporation Ltd. (“PDC”) announced today that it has filed with the Ontario Securities Commission a notice of intention to buy up to 350,000 units (the “Units”) of PDM Royalties Income Fund (TSX: PDM.UN) (the “Fund”), representing approximately 5% of the issued and outstanding Units, excluding the 83,500 Units held by PDC. There are currently a total of 7,051,092 Units issued and outstanding.

    These purchases are to be made through the facilities of the TSX in accordance with its policies on ordinary course purchases. The price which PDC
will pay for any Units will be the market price at the time of acquisition plus brokerage fees. Purchases may commence on December 11, 2006 and will
terminate no later than 12 months from the date of TSX approval.
 
    About the Fund
 
    The Fund is a limited purpose open-ended trust established under the laws of Ontario. The Fund will make monthly distributions of its available cash to
holders of units. The Fund indirectly owns the trade marks and intellectual property for the Pizza Delight and Mikes Restaurants brands and has licensed
them to PDC in consideration for a royalty equal to 4% of system sales generated by Pizza Delight and Mikes Restaurants. The Fund also indirectly
owns the trade marks and intellectual property for Scores Rôtisserie and Ribs brand and has licensed it to PDC in consideration for a royalty equal to 6% of
system sales generated by Scores Rôtisseries and Ribs restaurants.
 
   About PDC
 
    PDC is a privately owned corporation, headquartered in Moncton, New Brunswick. It operates franchised and corporate restaurants under the brand
names Pizza Delight(R), Mikes(R) Restaurants and Scores(R) Rôtisserie and Ribs. Pizza Delight(R) operates primarily in Atlantic Canada, where it
dominates the family/mid-scale segment. Mikes(R) Restaurants operates primarily in Québec in the casual dining segment and the take-out and delivery
segments. Scores(R) Rôtisserie and Ribs operates primarily in Québec in the casual dining segment.