SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 7, 1998.
TREATS INTERNATIONAL ENTERPRISES INC.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
0-21418 13-3495199
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(Commission File Number) (IRS Employer Identification No.)
418 PRESTON STREET, OTTAWA, ONTARIO, CANADA K1S 4N2
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (613) 563-4073
N/A
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(Former name or former address, if changed since last report)
ITEM 5 OTHER EVENTS
The Royal Bank of Canada and its wholly owned subsidiary The Royal Bank Capital
Corporation (collectively "RBCC") have notified the management of Treats
International Enterprises, Inc. ("TIEI") that it is not prepared to waive the
defaults of a debenture it holds in TIEI as RBCC has done in previous years.
RBCC has however also notified TIEI's management that it does not intend to
demand payment of the debentures at this time.
RBCC is the single largest shareholder of TIEI as well as it largest creditor.
TIEI and a group of shareholders have recently filed an action against RBCC as
detailed in a separate 8-K filing. The case is currently scheduled for mandatory
mediation in Ottawa, Ontario, Canada on January 19, 1999.
319853 Canada Inc. ("319853") which also holds a debenture in TIEI and which
debenture rates in first place and ahead of the debenture held by RBCC has
indicated that it will waive the default of its debenture. 319853's president
is a member of the family of the Chief Executive Officer of TIEI.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TREATS INTERNATIONAL ENTERPRISES INC.
By: / s / Francois Turcot Dated: December 11, 1998.
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Director of Finance