Firstline Poly Products Acquires 'Cheap Heap Auto Rentals Ltd.'
WILMINGTON, Del.--June 19, 2001--The Board of Directors of Firstline Poly Products International, Inc. (Pink Sheets:FLPP) is pleased to announce that it has executed a Share Purchase Agreement between Firstline and Cheap Heap Auto Rentals Ltd., acquiring 100% of the issued and outstanding shares of 'Cheap Heap Auto Rentals Ltd.' of Regina in the Province of Saskatchewan, Canada.Cheap Heap Auto Rentals Ltd. the now wholly owned subsidiary of Firstline rents and leases low cost vehicles, targeting the low and medium income customer group which comprise the largest segment of potential customers. The company had over $ 100,000 net earnings in its first year of operations. Maurice Aubichon, co-founder of Cheap Heap with over 27 years of experience in Auto Rentals and Sales, has joined the Company as the General Manager and CEO of the newly acquired subsidiary.
Firstline plans to expand the 'Cheap Heap Rental System' across Canada and the US within the next 3-5 years with location 2 to 12 to be opened in the Provinces of Saskatchewan and Alberta during the coming 12-18 months.
Firstline plans to raise a minimum of $50,000 to a maximum of $250,000 through an Offering Memorandum at a share-price of $0.25 to $0.75 which funds will be used for its Expansion Program as well as for general operating purposes and in specific to file with the SEC/NASD for Full Reporting status and trading on the OTC-BB.