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BRIEF-Freshii Expects COVID-19 To Have Impact On Business, Operations & Financial Performance For At Least H1 2020

Published 2020-04-29, 07:43 a/m
Updated 2020-04-29, 07:48 a/m

April 29 (Reuters) - Freshii Inc FRII.TO :

* FRESHII PROVIDES BUSINESS UPDATE

* FRESHII INC - EXPECT THAT ONGOING COVID-19 PANDEMIC WILL HAVE MATERIAL IMPACT ON CO'S BUSINESS, OPERATIONS & FINANCIAL PERFORMANCE FOR AT LEAST H1 2020

* FRESHII - EXPECTS THAT NUMBER OF AFFECTED LOCATIONS WILL CONTINUE TO FLUCTUATE, WITH CORRESPONDING EFFECT ON CUSTOMER TRAFFIC VOLUMES, REVENUE AT THESE LOCATIONS

* FRESHII - INITIATIVES TO ASSIST FRANCHISE PARTNERS INCLUDE A TEMPORARY DEFERRAL OF 25% OF ROYALTY FEES FROM MARCH 30, 2020 FORWARD

* FRESHII - INITIATIVES TO ASSIST FRANCHISE PARTNERS INCLUDE FULL FRESHII FEE DEFERRAL FROM MARCH 9 - MARCH 29, 2020

* FRESHII - ALL DEFERRED AMOUNTS TO BE COLLECTED AT LATER DATE AS DETERMINED BY CO

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