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<p align="center">UNITED STATES SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</p>
<p style="margin-bottom:2em; margin-top:2em" align="center"><strong><font size="+2">FORM 8-K</font></strong></p>
<p style="margin-bottom:2em; margin-top:2em" align="center">PURSUANT TO SECTION 13 OR 15(d)<br>
OF THE SECURITIES EXCHANGE ACT OF 1934</p>
<p style="margin-bottom:2em" align="center"><strong>Date of Report (Date of earliest event reported):
February 23, 2004</strong></p>
<p style="margin-bottom:2em" align="center">Commission file number: 000-31667</p>
<p style="margin-bottom:0; margin-top:4em" align="center"><strong><font size="+2">MFC DEVELOPMENT CORP.</font></strong></p>
<p style="margin-bottom:2em; margin-top:0" align="center">(Exact name of registrant as specified in
its charter)</p>
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		<td align="center" width="50%"><strong>Delaware</strong><br>
		<font size="2">(State of incorporation)</font></td>
		<td align="center" width="50%"><strong>13-3579974</strong><br>
		<font size="2">(I.R.S. Employer Identification No.)</font></td>
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<p style="margin-bottom:0; margin-top:2em" align="center"><strong>271 North Avenue, Suite 520</strong></p>
<p style="margin-bottom:0; margin-top:0" align="center"><strong>New Rochelle, NY 10801</strong></p>
<p style="margin-top:0" align="center"><font size="-1">(Address of principal executive offices)</font></p>
<p style="margin-bottom:0" align="center"><strong>(914) 636-3432</strong></p>
<p style="margin-top:0" align="center"><font size="-1">(Telephone number)</font></p>
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<h1 class="pgbreak" align="left"><font size="4"><u>Item 5. Other Events</u></font></h1>
<p align="center" style="text-align: center"><u><b>Letter of Intent</b></u></p>
<p class="MsoNormal" style="text-align: justify">On February 23, 2004 MFC
Development Corp. agreed to commence negotiations with Creative Marketing Group,
Inc. (CMG) to acquire 100% of that corporation's outstanding capital stock in
exchange for shares of common stock of the registrant after which the
shareholders of CMG will have a majority ownership. In connection with that
acquisition the Company will seek to raise $2,500,000 by the private placement
of its securities.</p>
<p class="MsoNormal" style="text-align: justify">CMG is a sales and marketing
oriented company specializing in presenting select product opportunities to
retail markets in the United States.&nbsp; Recently CMG obtained exclusive major
brand licensing agreements permitting them to produce various types of consumer
products and market them through retailers, food service, hospitality and
in-office locations throughout the United States.</p>
<p class="MsoNormal" style="text-align: justify">There is no assurance that the
registrant will successfully negotiate the acquisition or the private placement
or, upon the completion of such transactions, that the registrant will be
successful.</p>
<p class="MsoNormal" style="text-align: justify">&nbsp;</p>
<hr class="noprint" noshade>
<p style="text-align: center"><b><u>SIGNATURE</u></b></p>
<p style="text-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 duly authorized.</p>
<p align="justify">&nbsp;</p>
<p align="center"></p>
<p align="center">MFC DEVELOPMENT CORP.</p>
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		<td width="40%">February 23, 2004</td>
		<td width="60%" align="center" bordercolor="#000000" style="border-bottom-style:solid; border-bottom-width:1px">
		/s/ VICTOR BRODSKY</td>
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		<td></td>
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		<p style="margin-bottom:0; margin-top:1em">Victor Brodsky</p>
		<p style="margin-bottom:0; margin-top:0"><em>Vice President and Chief Financial Officer<br>
		(Principal Financial and Accounting Officer)</em></p>
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FORM 8-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
February 23, 2004
Commission file number: 000-31667
MFC DEVELOPMENT CORP.
(Exact name of registrant as specified in
its charter)
Delaware
(State of incorporation)
13-3579974
(I.R.S. Employer Identification No.)
271 North Avenue, Suite 520
New Rochelle, NY 10801
(Address of principal executive offices)
(914) 636-3432
(Telephone number)
Item 5. Other Events
Letter of Intent
On February 23, 2004 MFC
Development Corp. agreed to commence negotiations with Creative Marketing Group,
Inc. (CMG) to acquire 100% of that corporation's outstanding capital stock in
exchange for shares of common stock of the registrant after which the
shareholders of CMG will have a majority ownership. In connection with that
acquisition the Company will seek to raise $2,500,000 by the private placement
of its securities.
CMG is a sales and marketing
oriented company specializing in presenting select product opportunities to
retail markets in the United States.  Recently CMG obtained exclusive major
brand licensing agreements permitting them to produce various types of consumer
products and market them through retailers, food service, hospitality and
in-office locations throughout the United States.
There is no assurance that the
registrant will successfully negotiate the acquisition or the private placement
or, upon the completion of such transactions, that the registrant will be
successful.
SIGNATURE
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 duly authorized.
MFC DEVELOPMENT CORP.
February 23, 2004
/s/ VICTOR BRODSKY
Victor Brodsky
Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)