AMERIRESOURCE TECHNOLOGIES SHAREHOLDERS VOTE OVERWHELMINGLY TO INCREASE AUTHORIZED SHARES
OVERLAND PARK, Kan., Aug 30, 1999 /PRNewswire via COMTEX/ -- Delmar
Janovec, CEO of AmeriResource Technologies, Inc. (OTC Bulletin Board:
ARET) announced today that shareholders have approved increasing the
company's authorized shares by 500 million. The company made the
announcement following a special shareholder meeting held today in
Overland Park, Kan. The more than 13,000 shareholders cast over 416
million votes with 93.38% voting in favor of the increase. More than
84% of the outstanding shares voted on the issues. Shareholders also
elected Delmar Janovec and Rod Clawson to the board of directors and
retained the company's accounting firm of Crouch, Bierwolf & Chisholm.
Delmar Janovec stated "Over the past fourteen months we have started
ARET down a very unique path by directing our primary business at
providing housing for Native American consumers. This vote shows
overwhelmingly that our shareholders believe in our direction and are
willing to allow management to grow this company through the issuance
of stock. Management will diligently continue to identify and analyze
opportunities to expand the company's revenues through the acquisition
of mortgage entities, manufactured housing and other real estate
service providers."
The release may contain forward looking statements that involve risk
and uncertainties, including, without limitation, 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 suppliers and intellectual
property rights and other risks detailed from time to time in the
company's federal filings, annual report, offering, memorandums or
prospectus.
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