Auctions International Inc.

Auctions International Inc.

February 17, 2011 08:31 ET

Auctions International Announces-The Merger Will Proceed

KELOWNA, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2011) - Auctions International Inc. (PINK SHEETS:AUCI), a technology company that owns and markets proprietary software that enables real-time on-line auctions of virtually any commodity in the wholesale market, announced on February 16th that the company has signed an agreement with Amero International Inc. to proceed with a reverse merger of the two companies. As per a press release issued on January 27, 2011 in which Auctions International announced the purchase of 10% of Amero International as the first stage in a potential merger, the two companies have agreed to proceed after completing their respective due diligence.

Doug Mann, President and CEO of Auctions International Inc., said, "Working through a third party, Amero International has proven to be a strong company with sound fundamentals with significant revenue that can benefit greatly from becoming publicly traded. This merger will at long last return value to our Auctions International Shareholders, and breathe new life into the company."

About Auctions International Inc.

Auctions International began as a software company that designed and wrote an Internet based product that would allow Automotive Dealers across North America to facilitate dealer to dealer trades on a real time, live auction floor, 24-7. The product went live and ramped up to over 3000 vehicle listings immediately before the financial downturn that hit the automotive market particularly hard. It became obvious that a different revenue stream was in order and a search was begun for a merger target. After completing preliminary due diligence on several companies Amero International Inc. was identified as a good fit and discussions began with them in October of 2010.

About Amero International Inc.

Amero International Inc. is a closely held private corporation duly registered in the province of Manitoba Canada. Amero International Inc. has several divisions. This diverse company is involved in the manufacture, wholesale distribution, and retail sales via the Internet, of products ranging from outdoor recreational products to fine detail collectibles including mint items. 

Amero International has current annual revenues of approximately $700,000 with net revenues of over $400,000 and has planned an aggressive growth strategy. Amero International is the sole owner of CMC Mint (web address). CMC Mint manufactures in China, Warehousing in China, The USA and Canada. Company President Jean-Eric Plamondon has several years experience in the start-up of Internet based companies and has extensive experience in offshore production and world wide sales and distribution of quality mint collectibles and investment pieces (jewelry, coins and antique replicas with varying quantities of gold and other precious metals). The process begins immediately to implement proper legal and accounting procedures to reduce the time required to implement a reverse merger from beginning to end. The goal is to have Amero international, publicly trading as an audited company that is fully reporting to the SEC; ASAP.

Finally, the management of Auctions International would like to take a moment to thank all of our investors, for hanging in there with us while we created the environment that would allow us to "Raise the Phoenix from the ashes." We have always had a policy of talking to our investors and being up front about the company's prospects. It would seem that this policy has paid off with continued investor confidence and a solid market. Thanks to all of you!

Further press releases with disseminate relevant information as the merger process proceeds.

This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity, access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect. 

Contact Information

  • Auctions International Inc.
    Doug Mann
    President and CEO
    Amero International Inc.
    Jean-Eric Plamondon