AmeriResource Technologies, Inc. and NevStar Gaming & Entertainment
Corporation Announces Funding Commitment for Mesquite Star Hotel and Casino
LAS VEGAS--(BUSINESS WIRE)--Sept. 12, 2000--Delmar A. Janovec, Chairman
and CEO of AmeriResource Technologies, Inc. (ARET) and Dr. Michael J. Signorelli,
Chairman & CEO of NevStar Gaming & Entertainment Corporation formally an
NASDAQ traded stock (NVST) announced today that funding, in the form of a
sale/leaseback transaction in an amount of $15 million, for the Mesquite Star Hotel
and Casino has been secured through an investor arranged by LANDBASE
International, Inc. of San Antonio, Texas (see Press Release Dated August 7, 2000)
Dr. Michael J. Signorelli further states: "The investor being provided by LANDBASE
International, Inc. will provide the funds necessary for the reorganization of NevStar
and recommence operations of the Mesquite Star Hotel and Casino. As part of the
overall financing package we are working with the investor to provide for the 210
hotel room expansion, the renovation/expansion of the two existing restaurants, the
addition of 6,000 square foot convention/exhibition area and various speciality retail
space." This relationship with LANDBASE International, Inc. and their investor will
allow for not only the reopening and expansion of the Mesquite Star Hotel and
Casino as well as other opportunities that meet the specific goals of NevStar.
Statements in this press release, include forward-looking statements that include
risk and uncertainties. The forward-looking statements in this press release are
made pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Actual results may differ materially due to a variety of factors,
products and/or services and other risks detailed from time to time in the Company's
ability to produce and market certain products and/or services and other risks
detailed from time to time in the Company's reports filed with the Securities and
Exchange Commission.
CONTACT:
AmeriResource Technologies, Inc.
Delmar A. Janovec, 702/579-3347
Fax: 702/579-3350 |
