Thursday June 10, 10:03 am Eastern Time
Company Press Release
First Americans Mortgage Corporation President Addresses Housing Conference in North Dakota LENEXA, Kan.--(BUSINESS WIRE)--June 10, 1999--AmeriResource Technologies, Inc. (OTC BB:ARET) announced today that Dustan R. Shepherd, president of First Americans Mortgage Corporation (FAMC), addressed tribal representatives, nonprofit housing providers and state officials during Fort Berthold's Homeownership Conference.
Representatives from Community Reinvestment Fund, North Dakota Housing Finance Agency, North Dakota Office of Inter-Governmental Affairs and Department of Agriculture's, Rural Housing Services also made presentations concerning issues surrounding lending on tribal lands.
Various tribes from North and South Dakota attended the June 9th conference sponsored by the Fort Berthold Housing Authority (FBHA) based in New Town, North Dakota. Those tribes attending represent over 12,000 tribal members and an estimated 2,500 households living within their reservation boundaries. As a consultant, FAMC assisted FBHA during 1998 in the development of their one and five year Indian Housing Plan.
Shepherd commented, ''Participating in this conference allowed FAMC to introduce their products and lending philosophy to tribal communities located throughout the Dakota's. It also gave management an opportunity to spend time with the Fort Berthold staff and board of commissioners in order to explore partnership opportunities between the two organizations.'' Shepherd continued, ''The Fort Berthold Housing Authority is a prime candidate to become FAMC's conduit for loan production on their reservation while possibly playing a pivotal role in establishing the loan delivery system for the other tribes located in the region.''
The company included in the announcement that discussions commenced with the Housing Authority concerning the use of video conferencing to streamline the loan process and educate home buyers. In March the company announced that they would begin to explore opportunities for the implementation of EMB Corporation's (OTCBB: EMBU - news) ''Video Interactive Mortgage Process'' (V.I.P.) system in Indian Country. If finalized this undertaking would become the company's pilot project. Currently the Nation has video conferencing equipment in the Fort Berthold Community College located in New Town and in six communities strategically positioned throughout the reservation.
The release may contain forward-looking statements that involve risk and uncertainties, including without limitations, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, The Company's dependency on financing third party supplies and intellectual property rights, and other risks detailed from time-to-time in the company's federal filings, annual reports, offering memorandums or prospectus.
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Contact:
AmeriResource Technologies Inc., Lenexa
Dustan Shepherd or Delmar Janovec
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