PR NEWSWIRE) AmeriResource Technologies, Inc. Announces Preliminary Proxy
AmeriResource Technologies, Inc. Announces Preliminary Proxy Statement
Submission
OVERLAND PARK, Kan., July 8 /PRNewswire/ -- Delmar A. Janovec, CEO of
AmeriResource Technologies, Inc. (OTC Bulletin Board: ARET), announced today
that the company submitted a preliminary Proxy Statement to the Securities
Exchange Commission for review and comment. The statement contains amendments
that are crucial to the future business development of ARET and its primary
subsidiaries, First Americans Mortgage Corporation and First Plains
Construction Company. If accepted by the SEC, a record date of July 12, 1999
would be established with the shareholder meeting set for August 30, 1999 at
8:00 a.m. at the corporate offices in Overland Park, Kansas.
Janovec commented, "The preliminary statement that was forwarded to the
SEC for review and comment was designed by ARET management with two major
goals; first, the best interest of the company and its shareholder, the second
is allowing the company to take full advantage of the niche Native American
lending and construction market created by Mr. Shepherd's hard work and
creativity."
Shepherd said, "The primary issue in the proxy is the authorization of
additional shares. The company will predominantly use the shares to acquire
existing mortgage and construction companies to enhance First Americans and
First Plains growth both on and off reservation." Shepherd continued, "I
realize that this request by management is one that will rely on shareholder
confidence in us to utilize the shares in a responsible manner. Since I
became president of ARET in August, 1998 I have tried to develop solid
relationships with regional and national companies and follow through with
those partners in a manner which would benefit ARET and its shareholders. I
pledge to continue those efforts to establish ARET as the leader in native
American lending and construction while enhancing shareholder equity through
diversifying the company's product lines."
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.
-0- 07/08/99
/CONTACT: Dustan Shepherd or Delmar Janovec, of AmeriResource
Technologies, 913-385-FAMC or 913-341-ARET/
/Web site: nativeamericanlender.com /
(ARET)
CO: AmeriResource Technologies, Inc.; First Americans Mortgage Corporation;
First Plains Construction
ST: Nevada, Kansas
IN: FIN
SU:
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