THUNDER BAY, ON, March 8 /CNW/ - Family Memorials Inc. (TSX VENTURE:FAM)
is pleased to announce that it has signed a letter of intent with Mr. Donald
Barber to purchase all of the shares of Barber Monuments Limited.
Barber Monuments Limited prepares and sells monuments, grave stones and
markers in and around the City of St. Catharines, Ontario. In its 2006 fiscal
year 2006, Barber Monuments Limited had revenues of $430,000.00.
The Letter of Intent is subject to both parties completing an Agreement
of Purchase and Sale. The initial terms outlined in the Letter of Intent
stipulate a closing date of April 30th, 2007 at a purchase price of
$305,000.00 for all shares of Barber Monuments Limited.
Upon completion of this acquisition, Family Memorials Inc. will own and
operate seven monument retail outlets across Canada. There are over 250
independent monument retail operations in Canada at the present time. Family
Memorials Inc. has identified and had discussions with many of these companies
regarding future acquisition. Family Memorials Inc. has developed an
aggressive acquisition plan for 2007. Details of additional acquisitions will
be released as letters of intent are signed.
About Family Memorials Inc.
Family Memorials Inc. is a monument company, carrying on the retail
business of selling granite monuments for placement on individual cemetery
lots. The Corporation carries on business through its wholly-owned
subsidiaries Grajack Industries Ltd. in Belleville, Ontario, Somerville
Memorials Ltd. in Calgary, Alberta, and Verduyn Granite Ltd., in Peterborough,
Ontario and owns and operates retail memorials sales operations under the
Family Memorials banner in Brandon, Manitoba, Regina, Saskatchewan, and
Calgary, Alberta, and through an agent in Swan River, Manitoba.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Family Memorials Inc., Scott C. Kellaway,
President & CEO, (807) 577-6463, Email: email@example.com, Website: