Wednesday June 16, 10:41 am Eastern Time
Company Press Release
SOURCE: AmeriResource Technologies, Inc.
AmeriResource Technologies, Inc. Establishes Residential Construction Subsidiary
LENEXA, Kan., June 16 /PRNewswire/ -- AmeriResource Technologies, Inc. (OTC Bulletin Board: ARET - news), announced this morning that the company has organized and incorporated ''First Plains Construction Corporation'' for the primary purpose of producing residential housing for both on and off reservations Native American home buyers. First Plains Construction will team with ARETs' lending subsidiary, First Americans Mortgage Corporation to deliver a full turnkey approach to Native American housing.
Delmar Janovec, Chief Executive Officer commented, ''The creation of First Plains Construction Corporation will allow ARET to concentrate its construction experience and near-term efforts in the area of residential housing. The company will utilize a state of the art 'Structural Insulated Panels (SIP)' as their cornerstone product.'' Janovec continued by saying ''the company has identified SIP manufacturers and other building component suppliers who are committed to constructing affordable, energy efficient housing in Indian Country while assisting First Plains in achieving their objective of becoming this country's top developer of Native American housing.''
Dustan R. Shepherd, President, First Americans Mortgage Corporation commented, ''With the recent successful trips to New Mexico and the Dakotas management felt that the time had come to begin focusing a substantial portion of our time and resources toward developing an all inclusive program for Native American home buyers,'' Shepherd continued, '' the concept is not new to non-Native American communities. Companies like Pulte Homes, Kaufman & Broad Homes and Clayton Homes ''have carved out the niche market of coupling financing and construction in those communities. FAMC will utilize their coalition of lending partners, PMI Mortgage Insurance, FT Mortgage Companies , Washington Mutual Bank, Freddie Mac and George K. Baum & Company coupled with FAMC's web site ( www.nativeamericanlender.com ) to launch an aggressive strategy in order to dominate this wide-open market.''
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.
SOURCE: AmeriResource Technologies, Inc. |
