Canton Completes Major Real Estate Buy.SALT LAKE CITY--(BUSINESS WIRE)--Dec. 28, 1995--Canton Industrial Corporation (BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). :CND CND Campaign for Nuclear Disarmament CND n abbr (= Campaign for Nuclear Disarmament) → plataforma pro desarme nuclear CND (Brit) n abbr (= ) through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Oasis International Hotel & Casino Inc., and Oasis International Corporation (Nevada corporations), announced the purchase of 1120 acres of real estate for $540,000 down a $900,000 promissory note promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. and 500,000 shares of CIC's restricted common stock. The property consists of a truck stop which includes: a hotel, convenience store and a restaurant. In addition, the property has 50 mobile home sites which are fully occupied. The land is located approximately 180 miles west of Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. . The fifty acre parcel on which the truck stop is located just off a major exit to the city of Oasis on interstate I-80, a major east-west thoroughfare. CIC's Oasis subsidiaries intend to create a major destination resort. CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. envisions five multi-million dollar hotel-casinos located on 30 acre parcels on either side of I-80, a world-class health spa and a 36-hole championship golf course. CIC has begun negotiations with two public companies who may purchase a two year option for $2 million each for the necessary acreage to design and construct the facility. CIC believes that it could sell 500 acres of the developed land for a possible total of $250 million or more. CIC would most likely structure the sale of the Oasis property for a portion in stock and cash. All of CIC's plans are subject to zoning and financing the project. While CIC is gearing up for its plans it will continue to improve the existing operations. CIC will announce more details and any major progress on its plans to develop the Oasis property. CONTACT: Canton Industrial Corporation Victoria Gold, 1-800/574-4179 801/575-8073 |
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