<HTML>
<BODY style="line-height:12pt; font-size:10pt; color:#000000">
<BR>
<BR>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>UNITED STATES</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Washington, D.C. 20549</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>FORM 8-K</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>CURRENT REPORT</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Date of Report (Date of earliest event reported): <B>&nbsp;October 29, 2007 [October 26, 2007]</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>FACT CORPORATION</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<TABLE cellspacing=0><TR><TD valign=top width=192><P style="margin:0pt; line-height:7.2pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Colorado</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(State or other jurisdiction</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>of incorporation)</P>
</TD><TD valign=top width=18>&nbsp;</TD><TD valign=top width=150><P style="margin:0pt; line-height:7.2pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>000-17232</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Commission</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>File Number)</P>
</TD><TD valign=top width=18>&nbsp;</TD><TD valign=top width=186><P style="margin:0pt; line-height:7.2pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>84-0888594</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(IRS Employer</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Identifica&shy;tion No.)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>1530-9 Avenue S.E., Calgary, Alberta, Canada T2G 0T7</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>&nbsp;(Address of principal executive offices) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip Code)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>(403) 693-8000</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Registrant&#146;s telephone number, including area code</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Not applicable</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>&nbsp;(Former name or former address, if changed since last report)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):<BR>
</P>
<P style="margin:0pt; padding-left:18pt; text-indent:-18pt; line-height:13pt; font-family:Wingdings; font-size:11pt">&#168;<FONT FACE="Courier"> </FONT><FONT FACE="Times New Roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR>
</FONT></P>
<P style="margin:0pt; padding-left:18pt; text-indent:-18pt; line-height:13pt; font-family:Wingdings; font-size:11pt">&#168;<FONT FACE="Courier"> </FONT><FONT FACE="Times New Roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
</FONT></P>
<P style="margin:0pt; padding-left:18pt; text-indent:-18pt; line-height:13pt; font-family:Wingdings; font-size:11pt">&#168;<FONT FACE="Courier"> </FONT><FONT FACE="Times New Roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
</FONT></P>
<P style="margin:0pt; line-height:13pt; font-family:Wingdings; font-size:11pt">&#168;<FONT FACE="Arial Unicode MS"> </FONT><FONT FACE="Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
<BR>
<BR>
<BR>
<P style="margin:0pt; font-family:Times New Roman" align=center>1</P>
<P style="margin:0pt; font-family:Courier"><BR></P>
<BR>
<BR>
<P style="page-break-before:always; margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>Item 5.02</B></P>
<P style="margin:0pt; text-indent:72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>
<P style="margin:0pt; font-family:Courier"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>On October 26, 2007, Mr. W. Scott Lawler, a Director of FACT Corporation (the &#147;Company&#148;), informed the Board of Directors of the Company that he was resigning from the Board of Directors, and from his position on the Boards of Directors of the Company&#146;s subsidiaries, effective October 26, 2007. Mr. Lawler indicated that his resignation is due to a large number of present professional commitments with respect to his legal practice and a desire to ensure those commitments do not interfere with the decision-making processes and needs of the Company. &nbsp;Mr. Lawler further cited a desire to comply with new requirements under insurance policies presently required for his professional practice. &nbsp;Mr. Lawler did not resign as the result of any disagreement with the Company on any matter relating to the Company&#146;s operations, policies, or practices.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>SIGNATURES</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>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 hereunto duly authorized.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<TABLE cellspacing=0><TR><TD valign=top width=343.2>&nbsp;</TD><TD valign=top width=294><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>FACT CORPORATION</B></P>
</TD></TR>
<TR><TD valign=top width=343.2><P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">October 29, 2007</P>
</TD><TD valign=top width=294><P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">By: <U>&nbsp;/s/Jacqueline Danforth &nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jacqueline R. Danforth</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President</P>
</TD></TR>
<TR><TD valign=top width=343.2>&nbsp;</TD><TD valign=top width=294>&nbsp;</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<BR>
<BR>
<BR>
<P style="margin:0pt; font-family:Times New Roman" align=center>2</P>
<P style="margin:0pt; font-family:Courier"><BR></P>
</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "f20071029form8kresofdirlawle.htm", "description": "FORM 8-K", "secsgml_size_bytes": 10755}]
{"company-data": {"conformed-name": "FACT CORP", "cik": "0000707674", "assigned-sic": "2000", "irs-number": "840888594", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-17232", "film-number": "071195478"}, "business-address": {"street1": "821 HIGHWAY 33", "street2": "N/A", "city": "FREEHOLD", "state": "NJ", "zip": "07728", "phone": "732 780 9132"}, "mail-address": {"street1": "821 HIGHWAY 33", "street2": "N/A", "city": "FREEHOLD", "state": "NJ", "zip": "07728"}, "former-company": {"former-conformed-name": "CAPITAL RESERVE CORP", "date-changed": "19920703"}}
UNITED STATES
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):
October 29, 2007 [October 26, 2007]
FACT CORPORATION
(Exact name of registrant as specified in its charter)
Colorado
(State or other jurisdiction
of incorporation)
000-17232
(Commission
File Number)
84-0888594
(IRS Employer
Identifica­tion No.)
1530-9 Avenue S.E., Calgary, Alberta, Canada T2G 0T7
(Address of principal executive offices)               (Zip Code)
(403) 693-8000
Registrant's telephone number, including area code
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
1
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 26, 2007, Mr. W. Scott Lawler, a Director of FACT Corporation (the "Company"), informed the Board of Directors of the Company that he was resigning from the Board of Directors, and from his position on the Boards of Directors of the Company's subsidiaries, effective October 26, 2007. Mr. Lawler indicated that his resignation is due to a large number of present professional commitments with respect to his legal practice and a desire to ensure those commitments do not interfere with the decision-making processes and needs of the Company.  Mr. Lawler further cited a desire to comply with new requirements under insurance policies presently required for his professional practice.  Mr. Lawler did not resign as the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices.
SIGNATURES
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 hereunto duly authorized.
FACT CORPORATION
October 29, 2007
By:
/s/Jacqueline Danforth
Jacqueline R. Danforth
President
2