EXHIBIT 99.1
NEWS RELEASE

                 TEMTEX INDUSTRIES, INC. ANNOUNCES INTENTION TO
                         SELL ASSETS TO CFM CORPORATION

RIVERSIDE, CALIFORNIA (SEPTEMBER 24, 2003) - Temtex Industries, Inc. (Pink
Sheets: TMTX) ("Temtex") today announced that CFM Corporation (TSX: T.CFM)
("CFM") was the successful bidder to purchase substantially all of the assets of
Temtex, including certain of the assets of its subsidiaries, Temco Fireplace
Products Inc., a Texas corporation, and Temcomex S.A. de C.V., a Mexican
corporation, in an auction administered on September 22, 2003, by the United
Stated Bankruptcy Court, Central Division of California, Riverside Division (the
"Bankruptcy Court"). Subject to certain contingencies, including the completion
of due diligence, the execution of a definitive asset purchase agreement, and
the approval of the transaction by the Bankruptcy Court, the asset purchase will
close on October 3, 2003.

CFM submitted a bid of Seven Million Dollars ($7,000,000), which was approved by
the Bankruptcy Court. Assuming the approved transaction closes at the agreed
purchase price, Temtex believes that the proceeds from the transaction will be
insufficient to fully satisfy its outstanding creditor claims, and, as such,
Temtex believes that its outstanding stock is without value.

About CFM Corporation
- ---------------------
CFM Corporation is a leading vertically integrated manufacturer of home products
and related accessories in North America and the United Kingdom. CFM designs,
develops, manufacturers and distributes a line of hearth and space heating
products, barbecue and outdoor products, and water and air purification
products. CFM is headquartered in Mississauga, Ontario, Canada. The common stock
of CFM is traded on the Toronto Stock Exchange under the symbol "CFM".

About the Company
- -----------------
Temtex Industries, Inc., is a leading manufacturer and distributor of
zero-clearance metal fireplace products and gas fireplace equipment, including
vent-free gas logs. Its products are marketed to residential homeowners and home
remodeling contractors. Temtex Industries is headquartered in Riverside,
California, and its manufacturing facilities are located in Manchester,
Tennessee and Mexicali, Mexico. The common stock of Temtex Industries, Inc. is
traded on the OTC Bulletin Board under the symbol "TMTX". Investor relations
information is available on the Temtex Industries web site at
http://www.temcofireplaces.com.

Forward Looking Statements
- --------------------------
This report contains statements that are forward-looking within the meaning of
applicable federal securities laws and are based upon the Company's current
expectations and assumptions. You should not place undue reliance on those
statements because they speak only as of the date of this release.
Forward-looking statements include information concerning the Company's possible
or assumed future operations, including, without limitation, statements about
the Company's ability to sell its assets. These statements often include words
such as "expect," "plan," "believe," "anticipate," "intend," "estimate" or
similar expressions. As you read and consider this release, you should
understand that these statements are not guarantees of performance or results.
They involve risks, uncertainties and assumptions. Although the Company believes
that these forward-looking statements are based on reasonable assumptions, you
should be aware that many factors could affect actual results, which could
differ materially from the forward-looking statements. These factors include,
but are not limited to, uncertainty regarding the Company's ability to sell
assets as a going concern; uncertainty regarding ultimate court approval of the
Company's asset sale to CFM; issues related to CFM's ability to purchase the
assets; the Company's problems of operating with a history of losses and an
accumulated deficit; potential liquidity problems since historically the Company
has not been able to generate positive cash flow; the Company's requirement for
additional capital and the likelihood that it may not be secured; the ability of
the Company to maintain trade credit and contracts that are important to its
operations; risks associated with collections on the Company's receivables;
various other factors beyond the Company's control; and other risks detailed in



the Company's periodic report filings with the Securities and Exchange
Commission. All future written and oral forward-looking statements made by the
Company or persons acting on the Company's behalf are expressly qualified in
their entirety by the cautionary statements contained or referred to above.
Except for the Company's ongoing obligations to disclose material information as
required by the federal securities laws, we do not have any obligation or
intention to release publicly any revisions to any forward-looking statements to
reflect events or circumstances in the future or to reflect the occurrence of
unanticipated events. For a more detailed discussion of risk factors, see the
Company's most recent documents filed with the Securities and Exchange
Commission.