FACT Corporation to Conclude Sale of Calgary Office Building; All Conditions of Sale Have Been Satisfied and Closing is Scheduled for April 8, 2005.FREEHOLD Freehold, borough, United States Freehold, borough (1990 pop. 10,742), seat of Monmouth co., E central N.J.; settled c.1650, called Monmouth Courthouse (1715–1801), inc. as a town 1869, as a borough 1919. , N.J. -- FACT Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FCTOA), an emerging nutrition solutions company, today announced that the sale of one of its two commercial properties located in Calgary, Alberta will conclude on April 8, 2005. The Company accepted an offer of $2.55 million (Cdn) for the property in late December 2004 from Calgary-based Calfrac Well Services Calfrac Well Services Ltd. is an oilfield services corporation operating in Western Canada, Colorado, and Western Siberia, with more than 800 employees. Calfrac supplies a wide range of products and services from hydraulic fracturing; coiled tubing; well cementing and other well Ltd., and with the recent removal of all "subject to's", currently holds a non-refundable deposit of $200,000 (Cdn) which will be applied towards the purchase price on closing. "The conclusion of this transaction will successfully bring to a close the largest remaining portion of FACT's 2004 mandate to reduce outstanding debt and simplify our corporate operations," said Jacqueline Danforth, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of FACT Corporation. "With this significant divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). behind us, FACT can move to complete the remaining steps of our plan to streamline operations and truly focus all our efforts on our core business of providing nutrition solutions on a wholesale basis to commercial food processors and on a retail basis to consumers." The commercial property being divested is a single-story building on 1.68 acres, consisting of roughly 22,145 square feet of office space and laboratory space. As part of the terms of the sale, the purchaser will assume a first mortgage, totaling approximately $1.3 million (Cdn). The balance of proceeds, net of sales commissions and associated fees, will be used to retire a second mortgage in the total amount of $500,000 (Cdn), and to reduce other outstanding loans and liabilities. Remaining funds will be allocated to general working capital and in particular, the Company's 2005 marketing plan for the new online store at www.eatwellstaywell.net. Additional information on FACT, its new line of high-fiber, low-or-no-sugar Nutrition First(TM) products, the functional foods industry and 2005 plans for growth can be found in the March 21, 2005 issue of NJ Biz magazine where FACT is featured on Page 11 in an article written by Joao-Pierre S. Ruth entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: "Hoping to Roll in Dough" or downloaded online from www.njbiz.com. About FACT Corporation FACT Corporation develops, licenses and markets proprietary nutrition solutions through its wholly-owned subsidiaries, Food & Culinary cu·li·nar·y adj. Of or relating to a kitchen or to cookery. [Latin cul  n Technology Group Inc. and FACT Products Inc. The FACT companies
serve clients who manufacture, distribute and market functional food
products through a variety of conventional and alternative distribution
channels, including branded and private-label retail opportunities, as
well as food-service and specialty markets.
FACT very recently began marketing directly to consumers by launching its online store, www.eatwellstaywell.net, featuring a new line of unique, specially-formulated bake-at-home brownie brownie, in Celtic folklore, household spirit associated with farmsteads. Brownies help with chores, but, if criticized, they will make mischief, such as spoiling crops. If payment other than food is offered a brownie, he vanishes from a farm forever. , cookie cookie File or part of a file put on a Web user's hard disk by a Web site. Cookies are used to store registration data, to make it possible to customize information for visitors to a Web site, to target Web advertising, and to keep track of the products a user wishes to , muffin, pancake/waffle and all-purpose mixes. For more information about FACT and its products, industry trends and functional foods, please visit www.factfoods.com. |
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