SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 1, 1998
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Treasury International, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-28514 98-0160284
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(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
1183 Finch Avenue West
Downsview, Ontario, Canada M3J 2G2
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(Address of principal executive offices) (Zip Code)
(416) 663-0668
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(Registrant's telephone number)
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Item 2. Acquisition or Disposition of Assets.
On December 1, 1998, Treasury International, Inc. (the "Company")
consummated the sale of 100% of the stock of its indirect subsidiary Mega Blow
Moulding Limited ("Mega Blow"), a company engaged in the manufacture and
marketing of custom plastic containers, to 1299004 Ontario Corporation, an
Ontario corporation ("Ontario"). Pursuant to the terms of that certain Stock
Purchase Agreement dated August 11, 1998 and amendment thereto dated as of
September 30, the purchase price was $5,100,000, of which $250,000 was paid in
cash, $850,000 was paid directly to Mega Blow's bank to repay its line of credit
and the remaining $4,000,000 is evidenced by Ontario's non-interest bearing,
190-day promissory note (the "Promissory Note").
Item 7. Financial Statements and Exhibits.
Exhibits
2. Stock Purchase Agreement (incorporated by reference to the
Company's Proxy Statement pursuant to Section 14(A) of the Securities
Exchange Act of 1934 (Amendment No. 3)), as filed with the Securities and
Exchange Commission on November 18, 1998.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: February 11, 1999 TREASURY INTERNATIONAL, INC.
By: /s/ James Hal
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James Hal
President and Chief Executive Officer
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