SOURCE: AmeraMex International Inc

August 02, 2006 09:00 ET

AmeraMex International and Hamre Equipment Will Exchange Stock at Agreed Price

CHICO, CA -- (MARKET WIRE) -- August 2, 2006 -- Lee Hamre, President of Hamre Equipment, announced today that after several months of preparation AmeraMex (PINKSHEETS: AMMX) expects to complete and consolidate its balance sheets and income statements by the third quarter. Lee Hamre stated that, "The acquisition has taken longer than planned but the results are better than expected." Currently, Hamre Equipment is running about 10% ahead of last year's record sales of $12,000,000 and its $800,000 in gross profits. "We still expect world demand for the heavy equipment to exceed our projections," said Hamre. Hamre's emphasis is that there is no planned adjustment in the stock exchange for Hamre Equipment. The exchange value of AmeraMex International stock will remain at $0.10 per share for the Hamre Equipment Assets. This will represent a value larger than the current market price. All Parties agreed that the stock has not had time to reflect its value in the market and did not warrant a discount or adjustment because of the excessive time it has taken to complete this acquisition. For more than 30 years, Hamre Equipment Inc. has been helping to supply the equipment used in building the world's infrastructure and has developed a customers base worldwide. More information will be available at http://www.ammx.net.

SAFE HARBOR STATEMENT

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.

Contact Information

  • Contact:
    Investor Relations:
    IR@ammx.net
    AmeraMex International Inc.
    1-800-540-AMMX (2669)