SOURCE: Equus Resources, Inc.

December 21, 2006 13:50 ET

Equus Resources Announces Acquisition of Commercial Mortgage Company

ATLANTA, GA -- (MARKET WIRE) -- December 21, 2006 -- Equus Resources, Inc. (PINKSHEETS: EQUR) ("Equus") announced today that it has acquired the operations of AMC, a 16-year mortgage company based in Jacksonville, Florida. AMC is a licensed commercial mortgage broker serving banks and businesses in the northeast Florida -- southeast Georgia market. Michael White, who has moved into the commercial banking business, founded the company. Reed Dearing, a seasoned professional banker and commercial lender, will manage AMC as a division of Equus. Mr. Dearing has more than 30 years of executive experience with community and national banks, credit unions and commercial lenders. He is a licensed mortgage broker and is well-known to bankers and businesses in the northeast Florida and southeast Georgia markets.

"This acquisition will enable AMC to develop additional financial services, such as consulting to banks and business enterprises, while continuing to provide and grow our bread and butter commercial mortgage brokerage business," stated Mr. Dearing. "AMC ordinarily originates 50+ commercial loans annually and I see that number increasing, given AMC's numerous existing contacts, plus the additional ones I can offer."

AMC plans to maintain its principal offices in Jacksonville, but to expand its base of operations throughout Florida and Georgia.

About Equus

Equus is a diversified financial and education services company offering its clients a broad range of real estate, financial and education services, mainly in Georgia and Florida. Equus plans to expand its core businesses and areas of operation through internal growth and acquisitions and to add related lines of business as demand dictates. Our principal offices are in Atlanta and Jacksonville. For more information on Equus, please visit

Forward-Looking Statements:

Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the control of the Company.

Contact Information

  • Contact:
    Randy Harris
    Equus Resources, Inc.
    (888) 421-8326
    (770) 442-2364