AmeriResource and Montel Technologies Renew Letter-of-Intent
6/27/2003 9:31:00 PM
LAS VEGAS, Jun 27, 2003 /PRNewswire-FirstCall via COMTEX/ -- AmeriResource Technologies Inc. (OTC Bulletin Board: ARES) and Montel Technologies Corporation announced a second extension to their Letter of Intent to create two new corporations that will provide high-speed internet solutions for major hotel chains. The original Letter of Intent was signed May 9, 2003, was extended to June 21, 2003 and is now extended to July 21, 2003.
According to AmeriResource Technologies Inc.'s President, Delmar Janovec: "We have begun to lay some groundwork for these new business units and look forward to the development of these centers with Ray Montelongo and business associates. By working together, we can provide low-cost, high-speed, internet-access solutions to leading hotels and hotel chains."
About AmeriResource Technologies Inc. ("AmeriResource"): AmeriResource is a publicly trading company (OTC Bulletin Board: ARES) that operates two wholly owned subsidiaries: Jim Butler Performance (JBP) and West Texas Real Estate and Resources, Inc. (WTRER). JBP is in the business of manufacturing and selling high-performance specialty engines and parts for the automobile racing industry. For more information, see www.jbp-pontiac.com . WTRER holds oil, gas, and mineral leases on land in Pecos County, Texas. AmeriResource is currently in discussions with qualified merger-acquisition candidates in the areas of Homeland Security, Energy, and Travel & Entertainment, as well as special projects in other areas of interest. For more information, see www.ameriresourcetechnologies.com .
About Montel Technologies Corporation ("Montel Technologies"): Montel Technologies is a provider of Information Technologies (IT) primarily for the hospitality industry. Montel Technologies uses proven technologies that combine voice, video, data, and security on high-speed networks. Clients include Hilton, Marriott, and Intercontinental Hotels. Montel Technologies employs the best-available technologies to provide low-cost solutions that include in-room high-speed Internet connections with configuration-free plug- and-play access, secure centralized printing, and 24/7 professional technical support. Montel Technologies has a core staff of highly skilled engineers and professional project planners. Their services include network design and implementation, detailed IT documentation, remote network administration, network usage statistical reporting, and 24/7 technical support. In addition to serving the hotel/hospitality industry, Montel Technologies also delivers cost-effective high-speed wired and wireless networks to airports, shopping malls, convention centers, apartments, timeshares, and restaurants. Montel Technologies is certified as a Small Disadvantaged Business (SDB) under U.S. Small Business Administration (SBA) guidelines. For more information, see www.montel-technologies.com .
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission. The Company will provide you with copies of this information upon request.
SOURCE AmeriResource Technologies Inc. |
