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FACT Corp. Selling Alberta Property

CALGARY, AB-The independent developer and marketer of food products from Freehold, NJ, enters into an agreement to sell its commercial rental property here in accordance with a board mandate to focus on its core business.

By Brian K. Miller | Updated on January 13, 2004

CALGARY, AB-FACT Corp., a Freehold, NJ-based developer and marketer of food products traded on the OTCBB, has entered into an agreement to sell a commercial rental property here as part of the company’s plan to focus on its core business.

The property contains 22,145 sf of office and laboratory space. The selling price is CDN $2.7 million. The terms of the agreement call for the purchaser to assume the existing first mortgage of $1.5 million. The balance of $1.2 million is to be paid in cash and the sale is expected to close not later than May 31, 2004.

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