Gold Coast Resources Inc.->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), Washington Mutual Inc.
(NYSE:WM) and Freddie Mac (NYSE:FRE) 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. |
