(COMTEX) B: AMERIRESOURCE TECHNOLOGIES INC - Funding Commitment for M
B: AMERIRESOURCE TECHNOLOGIES INC - Funding Commitment for Mesquite Star Hotel
and Casino
New York, New York, Sep. 13, 2000 (Market News Publishing via COMTEX) -- 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 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. |
