Industry News | April 22, 2009

UFood Grill Completes Fundraising for Expansion

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UFood Restaurant Group Inc. (OTC BB:UFFC.OB - News) has received proceeds of a Private Placement offering in the amount of $2,226,330, net proceeds after deducting the expenses of the offering, to fund its ongoing growth and operations.

This marks the second and final round of fundraising for the company, which brings the total amount raised to $5,070,380, net proceeds after deducting the expenses of the offering. The first round was completed on March 20, 2009 in the amount of $2,844,050, net proceeds after deducting the expenses of the offering.

Garden State Securities, a New Jersey-based full service brokerage and financial planning firm that has been in business for over 25 years was the exclusive placement agent to raise the funds.