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VITAFORT ANNOUNCES FINANCING STATUS

 VITAFORT ANNOUNCES FINANCING STATUS
 MILL VALLEY, Calif., March 31 /PRNewswire/ -- The board of directors


of Vitafort International Corporation (NASDAQ: VFRT) announced today that it is seeking alternative financing sources other than Societe Anonyme Financiere et Industrielle de Garantie (F.I.G.) of Geneva, Switzerland, which raised $500,000 in its private placement efforts.
 Vitafort also announced the resignations of Roland van der Haegen and David Holewinski as directors of the company.
 Vitafort has arranged bridge financing with certain directors in the company and with a Swiss investment institution. Management believes these investments will allow the company to meet at a minimum three months of operations and allow it time to seek additional equity financing. The board believes the company's research and marketing programs represent the value to attract such financing. The Swiss institution was given the opportunity to designate a board member.
 -0- 3/31/92
 /CONTACT: Frank A. Corsini, president of Vitafort International, 415-388-3738/
 (VFRT) CO: Vitafort International Corporation ST: California IN: SU: FNC


GK-TS -- NY017 -- 3239 03/31/92 08:57 EST
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Publication:PR Newswire
Date:Mar 31, 1992
Words:174
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