AMERICAN INTERNATIONAL INDUSTRIES, INC.
(OTCBB: "AMIN")
601 CIEN STREET, SUITE 235, KEMAH, TX 77565-3077
Tel: (281) 334-9479 Fax: (281) 334-9508
www.americanii.com email: amin@americanii.com
FOR IMMEDIATE RELEASE
AMERICAN INTERNATIONAL INDUSTRIES, INC.
LIST FOR SALE IT’S 287 ACRES, WATERFRONT PROPERTY OWNED
IN GALVESTON COUNTY, TEXAS FOR $16,330,000
Kemah, Texas – April 12, 2005 American International Industries, Inc. (OTCBB: AMIN) Mr. Daniel Dror, Chairman and CEO, announced today that the Company has signed a listing agreement with McDade, Smith, Gould, Johnston, Mason and Company to sell it’s 287 acres of undeveloped real estate on Galveston Bay, Texas. McDade, Smith, Gould, Johnston, Mason and Company is a well respected Commercial and Investment Real Estate Brokerage and Consulting company in Houston, Texas. The brokers handling the sale of said property, Mr. Wayne Vitale and Ronald Simons, specialize in Real Estate in the Galveston County, Texas area. The brokers have informed AMIN they have interested purchasers who are major real estate developers of national status. This highly desirable waterfront property is in one of the fastest growing waterfront areas in the Houston / Galveston market and is suitable for development into high end uses such as marinas, hotels, shopping centers and other commercial and residential developments. The minerals and water rights are not included in the listing sales price of $16,330,000.
Mr. Dror stated that with the results of Year End of 2004 (announced in AMIN’s previous news release dated March 31, 2005 and in our 10-KSB filing with the SEC) is an affirmation of our vision to acquire companies, which not only meet our expectations regarding revenue and income, but also provide returns, which, ultimately translates into increasing share holder value. As we have previously announced our subsidiary International American Technologies, Inc. (IMTG) is in the finalization stage of the acquisition of Hammonds Technical Services, Inc., we are expecting to close this acquisition in April 2005.
Our subsidiary Northeastern Plastics, Inc. (NPI) as reported earlier secured a licensing agreement from Motor Trend and further secured a license agreement from Good Housekeeping for its new family of products (Good Choice), because of these new contracts we expect significant growth in NPI during the next twelve months.
The company recently announced a non-binding agreement to acquire a 51% equity interest in a refinery from International TransOil Corporation in exchange for cash and a $6,000,000 revolving credit facility. The company is currently conducting due diligence as a condition to closing. American International Industries, Inc. believes that with this acquisition, it is well positioned to participate in the increasing demand for refinery capacity.
American International Industries, Inc. is a holding company. The Company has holdings in Industry, Oil and Gas Services, Finance, and Real Estate in Houston area. The vision of the Company is to acquire controlling interests in undervalued companies in which it takes an active role to improve their growth and profitability, by providing its subsidiaries with access to capital, leveraging synergies and using AMIN’s management expertise. As a holding company, AMIN achieves economies of scale by consolidating administrative functions for each of its subsidiaries.
Private Securities Litigation Reform Act Safe Harbor Statement:
The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify 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 without limitations, continued acceptance of our products and services, continued growth in the energy sector, increased levels of competition, the dependence upon adequate financing, third party suppliers and the ability to hire and retain qualified management for its operating subsidiaries, and the regulatory environment in the segments in which we operate. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof.
Investor Relations: Rebekah Ruthstrom Tel: 281-334-9479 email: rruthstrom@americanii.com