Alottafun! Inc. Enters Into Letter of Intent with Tony Canales, Inc.
28 December 2000
Alottafun! Inc. Enters Into Letter of Intent with Tony Canales, Inc.WEST BEND, Wis., Dec. 27 Michael Porter, CEO of Venture Development, Inc., formerly Alottafun! Inc. (OTC Bulletin Board: ALFN) (Frankfurt: AZE), announced today that Venture Development, Inc. and Tony Canales, Inc., a privately held company located in Egg Harbor Township, N.J., have entered into a letter of intent to explore the possible acquisition of Tony Canales, Inc. by Venture Development and to examine other business combinations. Terms and conditions of the letter of intent will be disclosed upon completion of the due diligence process. Tony Canales, Inc. maintains the only approved and permitted tire recycling facility in Southern, N.J. It can take in tires from over 55 towns and 16 counties in New Jersey. The tire facility is located on 10 acres of land, and is capable of processing over 2.5 million tires annually. Tony Canales, Inc. has focused on supplying TDF in 1x1 chips. TDF, which is "tire derived fuel," is used for fuel in cement kilns, boilers, and other industrial applications.