Laforza Automobiles, Inc. Enters Escrow On New Production and Distribution Facility
16 October 1997
Laforza Automobiles, Inc. Enters Escrow On New Production and Distribution Facility65,000 sq.ft. Building Solidifies Company's (5) Year Plan SAN DIEGO, Oct. 16 -- Laforza Automobiles, Inc. (OTC: LFZA) announced today that they have entered escrow to purchase a sixty- five thousand (65,000) square foot production, distribution, and administration facility in Escondido, California. The purchase price of the building is to be $3.2M, including $500,000 cash, $500,000 in Laforza Automobiles, Inc. common stock, and a long-term note for $2.2M. The Company is estimating that the property will appraise for between $4.0M and $4.2M. Laforza's President and CEO Dave Hops comments, "The acquisition of this facility really solidifies our five (5) year growth plan. This building not only gives us all the production and office space we need for the short term, but it also serves to really beef up our balance sheet and asset base." The LAFORZA Sport Utility Vehicle (SUV) is an upscale, luxurious 4 X 4 automobile whose rolling chassis' are imported directly to the Company from the Italian manufacturer, Magnum Industriale. Laforza Automobiles, Inc. is a publicly traded company (Symbol "LFZA") that has the exclusive distribution and marketing rights to the LAFORZA SUV throughout North America. To find out more about this exciting growth company, please visit their web site at http://www.laforza.com. SOURCE Laforza Automobiles, Inc.