Inter-American Resources Completes Acquisition of 100% of Sovereign Resources, Inc.
October 18, 2001 9:17am
Source: Business Wire
MIAMI, Oct 18, 2001 (BUSINESS WIRE) -- Inter-American Resources, Inc. ("Inter-American") (OTC:IAMR) today consummated a merger with Sovereign Resources, Inc. ("Sovereign"), a private Florida corporation which is involved in the acquisition, exploration and development of world-class mineral deposits. Subsequent news releases will provide additional information on Sovereign's mineral assets and exploration programs.
Sovereign was merged with and into Inter-American, resulting in Sovereign becoming a newly-formed, wholly-owned subsidiary of Inter-American. The shareholders of Sovereign exchanged their shares of Sovereign for common shares of Inter-American; in aggregate, Sovereign's shareholders now hold approximately 80% of the issued and outstanding capital stock of Inter-American.
ON BEHALF OF THE BOARD
Allan Smith President
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the proceeding discussion, the words "plan", "confident that", "believe", "expect", or "intend to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components for, and delays in the start of production, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financing and other risks described in the company's SEC reports and filing.
CONTACT: InterAmerican Resources, Inc., Miami
Allan Smith, 305/438-0020
email: interamericanresources@yahoo.com |
