Trading Symbol: FFP
VANCOUVER, June 8 /CNW/ - Consolidated Firstfund Capital Corp. (the
"Company") has entered into an agreement to purchase 5.17 acres of land
situated in Whatcom County, Washington from Vitality Products Inc.
("Vitality") for a total consideration of $400,000, subject to regulatory
approval. Vitality is a related company managed by common directors and
officers and controlled by a common director, and the proposed sale has been
approved by the Company's independent Board members and is considered by the
Company to be at fair market value for said land. Vitality will use the
proceeds of the sale to reduce the amount of share subscriptions outstanding
received from Firstfund.
The Company has also entered into a debt settlement agreement with
Vitality to settle aggregate indebtedness in the amount of $150,000 by way of
the issuance of 750,000 common shares of Vitality to the Company at a deemed
settlement price of $0.20 per share, subject to regulatory approval.
On behalf of the Board of
CONSOLIDATED FIRSTFUND CAPITAL CORP.
William N. Grant (signed)
William N. Grant, President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Douglas Grant, Vice President & CFO at (604)
683-6611 or email@example.com