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Microcap & Penny Stocks : LFEI - A trading shell!
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To: R Jennings who wrote (53)7/30/1997 2:16:00 PM
From: Gary G, Weathersbee   of 68
 
Life Industries Inc. sells controlling interest in the company

FORT MYERS, Fla.--(BUSINESS WIRE)--July 30, 1997--Life Industries Inc. (OTC BB:LFEI) announced
Wednesday that it has sold a controlling interest in the company to Philip R. Lacerte of Dallas.

Lacerte purchased 51% of the company's now issued and outstanding shares for $51,000 cash.

In addition, Lacerte has agreed to negotiate the acquisition of Quill Industries Inc., a privately held Texas company also
controlled by Lacerte. The company will call a special meeting of shareholders to approve the terms and conditions of
the acquisition. The company presently has a signed letter of intent with Quill Industries Inc. and expects to close the
acquisition within 60 days.

Quill Industries Inc. is involved in the business of producing and marketing ostrich meat and leather products.

In connection with Lacerte's purchase, the company accepted the resignation of the company's President, Marc Baker
and appointed Robert L. Matzig to the position of president and director of the company. Matzig is currently president
and chief executive officer of Dry Dairy International Inc. of Fort Myers (OTC BB:DRYD - news). Dry Dairy is a
specialty food company that manufactures pasta and bakery items.
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