Business
FirstFund cancels land purchase and settles debt of $77,500
FirstFund cancels land purchase and settles debt of $77,500.
About this update from Consolidated Firstfund Capital Corp.
[{"type":"text","content":"\n\n\n\nTrading Symbol: FFP\n\n\nVANCOUVER, Sept. 14 /CNW/ -\n\n\nFirstfund Cancels Agreement to Purchase Land\n\n\nConsolidated Firstfund Capital Corp. (the "Company") has determined not\nto proceed with the agreement to purchase 5.17 acres of land situated in\nWhatcom County, Washington from Vitality Products Inc. ("Vitality") for a\ntotal consideration of $400,000 announced in the Company's June 8, 2007 Press\nRelease. Vitality is a related company managed by common directors and common\nofficers.\n\n\nFirstfund Settles Debt of $77,500\n\n\nThe total amount of indebtedness to be settled in the Company's debt\nsettlement agreement with Vitality announced in the Company's June 8, 2007\nPress Release has been modified. The Company has now agreed to settle\naggregate indebtedness in the amount of $77,500 by way of the issuance of\n387,500 common shares in the capital of Vitality to the Company at a deemed\nsettlement price of $0.20 per share. The shares for debt transaction has\nclosed and the shares are subject to a four-month hold period that expires on\nJanuary 12, 2008.\n\n\nOn behalf of the Board of\n\n\nCONSOLIDATED FIRSTFUND CAPITAL CORP.\n\n\nWilliam N. Grant (signed)\n\n\n---------------------------------\n\n\nWilliam N. Grant, President & CEO\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n%SEDAR: 00002533E\n\n\n","length":1540,"tagName":"div"}]