Canton Subsidiary Agrees to Purchase Nevada Property.SALT LAKE CITY--(BUSINESS WIRE)--Dec. 8, 1995--The Canton Industrial Corporation (BSE-CND)(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB-CICP), announced today that a subsidiary of the company has agreed to purchase a large parcel of land in Oasis, Nevada Oasis is a small town located in eastern Elko County, Nevada, at the junction of Nevada State Route 233 and Interstate 80, approximately 40 miles (64 km) west of the Nevada border with the state of Utah. . This property contains over 1,100 acres in Northeast Nevada along Interstate 80. The property is approximately 150 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. or 30 miles west of the Utah-Nevada border. The property currently contains several businesses including a service station, motel, U.S. Post Office U.S. Post Office can refer to the United States Postal Service system. There are many interesting and historic buildings among the large number of facilities. , a small residential area, and an existing infrastructure capable of handling expanded residential and business use. Approximately 52 acres of the property have a commercial zoning designation which would allow for the construction of a hotel and casino. Canton, through its subsidiaries, is currently developing plans to expand the property that may consist of a whole community with resorts, spas, golf courses, restaurants, and casinos. Although Canton is developing this plan for the Oasis property, Canton has engaged in preliminary negotiations with outside parties potentially interested in completing these projects. Canton is also currently involved in negotiations for the purchase of other real estate interests that may significantly increase its intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. . Canton Industrial Corporation is an international holding company. Through its subsidiaries, Canton provides a wide range of financial consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" to corporations, institutions, and professional firms in markets throughout the world. CONTACT: Canton Industrial Corporation Kent Isom, 801/575-8073 |
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