Trading Symbol: FFP
VANCOUVER, Sept. 14 /CNW/ -
Firstfund Cancels Agreement to Purchase Land
Consolidated Firstfund Capital Corp. (the "Company") has determined not to proceed with the 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 announced in the Company's June 8, 2007 Press Release. Vitality is a related company managed by common directors and common officers.
Firstfund Settles Debt of $77,500
The total amount of indebtedness to be settled in the Company's debt settlement agreement with Vitality announced in the Company's June 8, 2007 Press Release has been modified. The Company has now agreed to settle aggregate indebtedness in the amount of $77,500 by way of the issuance of 387,500 common shares in the capital of Vitality to the Company at a deemed settlement price of $0.20 per share. The shares for debt transaction has closed and the shares are subject to a four-month hold period that expires on January 12, 2008.
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.
%SEDAR: 00002533E