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 SALT LAKE CITY, Nov. 3 /PRNewswire/ -- The Canton Industrial Corp. ("Canton"), listed on the Boston Stock Exchange under the symbol CNI, announced a new diversification policy. Canton is expanding by focusing on the acquisition of real estate and high potential companies. Recent acquisitions and pending acquisitions include the Wild Horse Ranch Inc. ("Wild Horse"), Metallurgical Industries Inc. ("Metallurgical") (NASDAQ: MTALA), the Alta Title Building, and the Plandome Building.
 On Nov. 2, 1993, Canton entered into an agreement in principle to lease the Wild Horse Ranch. Canton shall retain an option to purchase Wild Horse throughout the term of the lease. The ranch includes approximately 20 acres, buildings, assets, and the business of Wild Horse.
 Serenely located in the western foothills on the outskirts of Tucson, Ariz., the Wild Horse Ranch has been a haven for travelers from around the world for more than half a century. Wild Horse's operator, Sharlette ("Charlie") Burton, has been restoring the ranch to "the days of yesteryear," when famous Hollywood actors and actresses enjoyed the beauty of the ranch. Wild Horse provides a tranquil setting for families, business, and professional groups. The ranch has an exciting history of gunfights, gold robberies, Indians, and mysterious happenings.
 Guests enjoy the history of the setting as well as the heated swimming pool, shuffleboard, croquet, tennis, volleyball, badminton, horseshoes, exploring, wildlife, and hiking. The guests may also choose to participate in a Cowboy Movie Fantasy Camp, where they are fitted in Western attire and makeup and star in a real live Western Movie.
 Canton intends to offer a number of new self-improvement programs at the Wild Horse Ranch. The agenda may include such things as Balanced Living, Total Quality Management, Near Total Recall Educational Programs, a Corporate Executive Retreat, Parent/Child Relationship Program a new line of Health Care Products, and a Wellness Center. One theme that the ranch is trying to promote is "Take Stock in Your Life." Through this program the executive guest is trained to redevelop his/her growth tools and take an improved outlook on self, family, business, and community.
 Depending on the program and the time of the year, it is anticipated that guests will pay between $2,500 to $10,000 a week to stay at the ranch. Wild Horse is currently taking reservations for the next calendar year.
 In an Oct. 4, 1993 press release, Canton announced the purchase of a controlling interest in Metallurgical Industries Inc. a NASDAQ company listed under the symbol MTALA. Following the Metallurgical stockholders meeting which is scheduled to take place before the end of the year. Canton is expected to obtain effective control of Metallurgical. Canton is negotiating with Metallurgical in an effort to shift its current recycling operations to Metallurgical and assist Metallurgical in developing tire recycling operations of its own. With this change, Canton intends to broker end products made from recycled products rather than being directly involved in the collection and processing of used tires. Canton is also assisting in the consolidation of a number of aerospace machining companies into Metallurgical. This strategy will hopefully allow the consolidation of recycling, industrial, and manufacturing operations into Metallurgical while Canton focuses on the acquisition of real estate and other companies.
 On Nov. 1, 1993, Canton purchased an 18,000-square-foot office building for a purchase price of approximately $540,944. The building formerly known as the "Alta Title Building" is located in downtown Salt Lake City. Canton is contemplating moving its corporate offices to this building.
 On Oct. 12, 1993, Canton announced the acquisition of another office building in downtown Salt Lake City. This 15,300-square-foot office building known as the "Plandome Building," is ideally located next to the Chamber of Commerce Building and the Salt Lake City and County Building.
 Canton's remaining real estate portfolio includes approximately 1,300,000 square feet of warehouse and office space located in Canton, Ill., approximately 250,000 square feet in Cheriton, Va., and approximately 11,000 square feet owned by Metallurgical in Parkersburg, W.Va. The total building space is in excess of approximately 1,600,000 square feet located on more than 100 acres of land. These properties have been booked for approximately $3,000,000.
 These properties may be managed through the assistance of professional real estate management companies. This would allow Canton to continue acquiring real estate without having to expend large resources needed to manage and operate the properties. With the goal of increasing shareholder value in mind, Canton intends to continue this aggressive diversification and acquisition of real estate and other assets over the next 12 months.
 -0- 11/3/93
 /CONTACT: Richard Surber, secretary, The Canton Industrial Corp., 801-575-8311; or Sharlette ("Charlie") Burton, Wild Horse Ranch, 602-744-1012/

CO: Canton Industrial Corp.; Wild Horse Ranch Inc.; Metallurgical
 Industries Inc. ST: Utah IN: SU: TNM

LS-LM -- LA013 -- 9990 11/03/93 09:03 EST
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Publication:PR Newswire
Date:Nov 3, 1993

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