Exhibit 7 - --------- ASSIGNMENT AGREEMENT -------------------- THIS AGREEMENT dated as of March 5, 2004 between Burgio Family Holdings Inc. - --------------- (the "Transferor") and LF Acquisition Corp. (the "Transferee"). WHEREAS the Transferor (as purchaser) and Mary Penny (as vendor) entered into a - ------- share purchase agreement dated December 31, 2003 (the "Share Purchase Agreement") dealing with the capital stock of Loretta Foods Limited. NOW THEREFORE FOR GOOD AND VALUABLE CONSIDERATION RECEIVED BY EACH OF THE - -------------------------------------------------------------------------------- PARTIES, THE PARTIES AGREE AND THIS AGREEMENT WITNESSES THAT: - ------------------------------------------------------------- 1. The Transferor hereby assigns and transfers unto the Transferee all rights, warranties, representations, obligations and liabilities of the Transferor under the Share Purchase Agreement and the Transferee hereby accepts and assumes same. 2. The Transferee hereby agrees to be bound by the terms and conditions of the Share Purchase Agreement as if the Transferee had originally been the purchaser thereunder. 3. The Transferor hereby agrees and acknowledges that it shall remain jointly and severally liable with the Transferee under the Share Purchase Agreement and under all closing documents. IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this - ------------------- Agreement as of the date first above written. LF ACQUISITION CORP. -------------------- ----------------------------- Al Burgio, President BURGIO FAMILY HOLDINGS INC. --------------------------- ----------------------------- Al Burgio, President