Mr. Stanley Ma reports

MTY COMPLETES THE ACQUISITION OF MANCHU WOK, SENSEASIAN AND WASABI GRILL & NOODLE

Pursuant to the announcement made on Oct. 23, 2014, MTY Food Group Inc.'s wholly owned subsidiaries MTY Tiki Ming Enterprises Inc. and MTY Franchising USA, Inc. have completed the acquisition of the assets of Manchu Wok, Wasabi Grill & Noodle and SenseAsian restaurants, which are mainly located in Canada and in the United States. The total consideration for the transaction is $7.9-million, paid from MTY's cash on hand and existing credit facilities. At closing, the brands operate 132 stores, including 14 corporately owned stores. The transaction will bring the MTY network to approximately over 2,800 outlets, generating system sales of $1-billion on an annualized basis.

"The addition of those 132 stores will provide further breadth and depth in MTY's portfolio of brands in Canada, and will enable MTY to increase its presence in the United States," said Stanley Ma, chief executive officer of MTY. "The addition of a category leader, such as Manchu Wok, to our network will further strengthen MTY's proposition to customers, landlords and prospective franchisees."

In the weeks following the transaction, the operations of these newly acquired brands will be relocated in MTY's offices in Richmond Hill, Ont.

Raymond Leung, who currently occupies the position of vice-president of operations for Manchu Wok, will be promoted as leader for the acquired brands, effective the closing of the transaction.

We seek Safe Harbor.