Monday August 23, 5:41 pm Eastern Time
Company Press Release
AmeriResource Technologies Inc., Finalizes the Sale of 50% of the Agent's Hotel Guide Inc., to STARUNI Corp.
OVERLAND PARK, KS--(BUSINESS WIRE)--Aug. 23, 1999--The company's chief executive officer, Delmar Janovec Monday announced that the sale of 50% interest in The Agent's Hotel Guide Inc., to STARUNI Corp. (OTC BB:SRUN), has been completed effective Aug. 23, 1999.
ARET acquired 100% ownership of the guide from Global Datatel Inc. (OTC BB:GDIS) formally Gold Coast Resources Inc. In recent years, the guide provided booking accommodations, and location information on more than 10,000 major hotels and resorts located throughout the United States, Canada, Mexico and the Caribbean.
AmeriResource (OTC BB:ARET) will receive for the sale of 50% interest in The Agent's Hotel Guide Inc., restricted stock that has a dollar value of $1,750,000. STARUNI will guarantee the price of the stock for a one year period. Under the terms of the sale, STARUNI will expand the business plan, provide additional capital and expertise to re-establish the Web Site via the Internet.
STARUNI is a rapidly growing Internet Service Provider, with a customer base that exceeds 5,000 subscribers through their own website and their recently announced Joint-Venture with a Canadian ISP, UniTransact Business Solutions Inc. (OTC BB:UTNS).
The UNTS Joint-Venture has allowed STARUNI immediate penetration in the Canadian market. The company provides a wide array of Internet services that are tailored to meet the needs of individuals and small business. STARUNI is aggressively seeking expansion of their customer base through the acquisition of existing providers.
Janovec stated, ''We are glad to close this business transaction with Bruce Stuart and STARUNI, both Bruce and STARUNI, have a vast amount of Internet experience that I feel will benefit ARET through this venture and the creation of additional profit centers. Their experience could be immediately felt by ARET's mortgage subsidiary, First Americans Mortgage Corp. (FAMC).''
Janovec continued, ''FAMC is on the cutting edge of mortgage product development for Native American home buyers. Through its relationships with national mortgage providers like PMI Mortgage (NYSE:PMA - news), Washington Mutual Inc. (NYSE:WM - news) and Freddie Mac (NYSE:FRE - news) the company has developed a strong following in the Native American community.
''FAMC is continually exploring avenues for broadening their product menu to include consumer loan products for both Native American and non-Native American consumers. I am confident that the most profitable and expedient manner to achieve a delivery system for all our loan products is through investment in state-of-the-art technology.''
The release may contain forward looking statements that involve risk and uncertainties, including, without limitation, continued acceptance of the company products and service, increased levels of competition, new products and technological changes.
The company's dependency on financing third party suppliers and intellectual property rights and other risks detailed from time to time in the company's federal fillings, annual report, offering, memorandums or prospectus.
AmeriResource Technologies Inc. 9319 Santa Fe Drive Overland Park, KS 66212
Contact:
AmeriResource Technologies Inc.
Delmar Janovec, 913/341-ARET
or
First American Mortgage Corp.
Dustan Shepherd, 913/385-FAMC |
