Dallas, Texas (July 19 , 2011) – StockGuru shines its Spotlight on American International Industries, Inc. (OTCBB: AMIN) (“American” or the “Company”) today announced that it has acquired an additional 65 acres of land located in Galveston County, Texas (the “Property”), which is free and clear of any liens or encumbrances. The Property is in close proximity to the 287 acre waterfront property that is owned by American’s wholly-owned subsidiary, American International Texas Properties, Inc. The Property, which has been appraised by an independent third-party appraiser at a fair market value of $1,900,000, was acquired from Kemah Development Texas, L.P. (“KDT”), an entity owned and controlled by the brother of American’s CEO. The Company closed on July 18, 2011, at $0.58 trading on extremely light volume in a fifty-two week range of $1.03 – 0.25.
The consideration for this acquisition was paid through the issuance to KDT of 1,460,000 restricted shares of the Company’s common stock, valued at $861,400, based on the closing market price of $0.59 on July 8, 2011.
Mr. Scott Gaille, President of American, stated that “the board of directors of American has approved the purchase of the Property and intends to assign title of the Property to our wholly-owned real estate subsidiary which owns a portfolio of strategically located parcels of land in Houston and Galveston County, Texas. We expect our properties to appreciate in value, despite the weakness being experienced in other parts of the country. Further, we believe that real estate holdings such as ours are hard assets that will provide a substantial return on our investment in the same manner that gold, oil, and other hard assets have provided. While the properties owned by the Company’s subsidiary, American International Texas Properties, Inc., are mostly leased to farmers and have an agricultural tax exemption, all of our properties are zoned to permit commercial development and use.”
American International Industries, Inc. is a diversified holding company, with a business model similar to General Electric, Tyco International, and Berkshire Hathaway. The Company has holdings in Industry, Finance and Oil & Gas, and has a significant Real Estate portfolio, all in Houston, TX and its surrounding areas. The vision of the Company is to further develop holdings in its core industries and plans to expand its interests in the energy sector through acquisition of existing companies, applying the financial resources and management expertise to foster the growth and profitability of the acquired businesses. The holding company serves as a financial and professional partner to the management of the subsidiaries. The role of the holding company is to improve each subsidiary’s access to capital, achieve economies of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate personnel across all units. The Company is continuing to work with management of the subsidiary companies to improve revenues, operations and profitability.
Investors can view real time stock quotes for AMIN with market depth (Level 2) at www.otcmarkets.com/stock/AMIN/quote
This press release may contain forward-looking statements, including information about management’s view of the Company’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate in each of our segments reflected by our subsidiaries’ operations include, among others:, continued value of our real estate portfolio; the strength of the real estate market in Houston, Texas as a whole; the ability to expand its interests in the energy sector; increased levels of competition; the dependence upon financing, the rules of regulatory authorities and risks associated with any potential acquisitions. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents the Company files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.
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