SOURCE: AmeraMex International Inc.

February 15, 2006 10:26 ET

Lee Hamre, President of AmeraMex International Inc., Announces Today That a Special Stockholders Meeting Will Be Called to Finalize the Acquisition of Hamre Equipment

CHICO, CA -- (MARKET WIRE) -- February 15, 2006 -- Lee Hamre, president of AmeraMex International Inc (OTC: AMMX), stated today that the shareholders will vote on the acquisition in our annual meeting to be held at Chico, California. Hamre stated that "We are vary excited about our future and have been working around the clock to complete this transaction. We have been able to overcome the minor delays that were associated with the transfer and approval of certain dealer licenses. An independent appraisal and verification of the equipment assets will be sent out with the proxy material. We are now confident that this acquisition will be completed quickly, but caution that projections of the sales figures from Hamre Equipment cannot be relied on until the shareholders approve this acquisition." As part of the agreement between AmeraMex International and Hamre Equipment, certain accounting standards must be met and under those standards a consolidated earnings and balance sheet cannot be stated until after the annual meeting and the ratification of the transaction. Hamre Equipment has had an excellent year in 2005 with over $11,500,000 in sales which represents about 30% increase from its prior year. The Hamre group currently owns a majority of the shares outstanding of AmeraMex International.

The special stockholders meeting has been set for March 15, 2006.

Safe Harbor Notice:

The statements in this press release, relating to matters that are not historical are forward-looking statements which involve risks and uncertainties including, without limitation, economic and competitive conditions in the market served by the Company affecting the demand for the Company's products, product pricing, market acceptance, access to distribution channels, availability of new financing, and other risks detailed from time-to-time in the Company's press releases. These risks could cause actual results to differ materially from those anticipated and described herein.

Contact Information

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