![](gwf.jpg) |
News |
|
FOR IMMEDIATE RELEASE
G. WILLI-FOOD INTERNATIONAL LTD. ANNOUNCES CLOSING OF
$10.0 MILLION PRIVATE PLACEMENT
YAVNE, ISRAEL, OCTOBER 5, 2006 - G. WILLI-FOOD INTERNATIONAL LTD. (NASDAQ:
WILC; the "COMPANY" or "WILLI-FOOD"), one of Israel's largest food importers and
a single-source supplier of one of the world's most extensive range of quality
kosher food products, today announced that it had closed its previously
announced $10.0 million private placement of shares of its common stock and
warrants to institutional investors. A total of 1,652,893 ordinary shares were
sold at a purchase price of $6.05 per share. Warrants to purchase 561,982
additional shares at an exercise price of $8.00 per share were also issued in
the transaction. Roth Capital Partners served as the placement agent for the
transaction.
After deducting estimated closing costs and fees, the Company received net
proceeds of approximately $9.6 million. Zwi Williger, President and COO of
Willi-Food commented, "This private placement provides us with the capital to
build a new distribution center that will increase our capacity and enable us to
progress in our strategy of international expansion. We are targeting the $14
billion kosher market opportunity in the U.S., and we are aggressively pursuing
additional distribution channels for our innovative line of kosher products."
"We are committed to delivering value for our investors and are pleased to
expand our shareholder base through this transaction." noted Mr. Williger.
Willi Food recently reported a 23% increase in the first half of 2006 revenues
to $22.0 million over revenues in the first half of and a 724% increase in first
half net income to $5.7 million or $0.66 per share. Net income for first half of
2006 includes $4.0 million as a net one-time unrealized capital gain due to the
public listing of the shares of the Company's wholly-owned subsidiary, Gold
Frost Ltd. (GLF.L).
The securities issued by G. Willi-Food International Ltd. in the private
placement have not been registered under the Securities Act of 1933, as amended,
and may not be offered or sold in the United States, absent registration under
the Securities Act and applicable state securities laws or an applicable
exemption from those registration requirements. G. Willi-Food International Ltd.
has agreed to file a registration statement with the Securities and Exchange
Commission to register the resale of the ordinary shares issued in the private
placement, as well as the ordinary shares issuable upon the exercise of the
warrants issued in the private placement.
![](gwf.jpg) |
News |
|
ABOUT G. WILLI-FOOD INTERNATIONAL, LTD.
G. Willi-Food International Ltd. is one of Israel's largest food importers and a
single-source supplier of one of the world's most extensive ranges of quality
kosher food products. It currently imports, markets and distributes more than
400 food products manufactured by some 100 top-tier suppliers throughout the
world to more than 1,000 customers. The Company excels in identifying changing
tastes in its markets and sourcing high-quality kosher products to address them.
For more information, please visit the Company's website at
www.willi-food.co.il.
EXCEPT FOR HISTORICAL INFORMATION CONTAINED HEREIN, THE MATTERS SET FORTH IN
THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS THAT ARE DEPENDENT ON CERTAIN
RISKS AND UNCERTAINTIES, INCLUDING SUCH FACTORS, AMONG OTHERS, AS MARKET
ACCEPTANCE, MARKET DEMAND, PRICING, COMPETITION, CHANGING ECONOMIC CONDITIONS
AND OTHER RISK FACTORS DETAILED IN THE COMPANY'S SEC FILINGS.
CONTACT:
G. Willi Food International Ltd.
Gil Hochboim, CFO
(+972) 8-932-2233
gil@willi-food.co.il
IR CONTACT:
The Global Consulting Group
Christopher Chu
+1(646)-284-9426
cchu@hfgcg.com