Early Warning Report Issued Pursuant to National Instrument 62-103: Update on Indirect Holdings of Common Shares of Pizza Pizza Royalty Corp.

TORONTO, ONTARIO–(Marketwired – Dec. 31, 2013) – This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the “Early Warning Report“) concerning the deemed beneficial ownership of common shares of Pizza Pizza Royalty Corp. (“PPRC”).