First American Scientific Corp. (fka FASC)

[ptrey]

OT: TRCPA...From the previous post referring to TERRALIFT...Here is further info: FWIW.

http://biz.yahoo.com/iw/040428/066480.html

Deposit Paid on Terralift Acquisition Agreement
Wednesday April 28, 9:15 am ET
Agronix Moves to Close Acquisition Agreement on Terralift Ireland, Inc. to Acquire Operating Treatment Plant, With Plans to Install Agronix's GO Systems Technology


LOS ANGELES, CA--(MARKET WIRE)--Apr 28, 2004 -- Agronix, Inc. (OTC BB:AGNI.OB - News) (Berlin Stock Exchange: AGNI.BE) is pleased to announce that $50,000 has been released as a deposit pursuant to the Terralift Ireland Inc. Acquisition Agreement, with completion of matching funds loan agreement imminent.
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Agronix will acquire Terralift Ireland Inc., plant, buildings, permits and ongoing business for $1,500,000 plus common shares of Agronix. Business valuator, Ryan Butcher, ACCA MIAVI, Accountant and Chartered Surveyor, has estimated the value of the Terralift operation at $3.6 million US dollars. The Terralift facility is located 4.6 kilometers northeast of Castleblayney, County Monaghan, Ireland.

Agronix is planning a $4.3 million refit of the Terralift facility and equipment, which will result in an operation that generates $6.3 million in revenue, providing a greater then 50% ROI on revenues generated from tipping fees, organic fertilizers sales and soil amendments sales to existing customers under current contracts.

Terralift Ireland has secured contracts to receive 140 tonnes per day of clean, segregated organic waste from five major waste generators, however it is only obligated to accept inflow material at plant capacity. By installing Agronix's GO Systems in the Terralift plant, Agronix can increase the capacity of this plant and at the same time increase the quality, hence value of its output. Agronix has secured contracts to sell its production of organic fertilizers and soil amendments from the Terralift plant.