SAN JUAN CAPISTRANO, Calif., June 14, 2007 (PRIME NEWSWIRE) -- American Mold Guard, Inc. (Nasdaq:AMGI), the industry leader in mold prevention services, continues its United States expansion with the opening of a new region in Seattle that will focus on multi and single family residential construction. The Company has named Sal Passantino as the account manager to lead sales in the new operation.
"Sal brings to the Company years of sales experience and knowledge of the Seattle area that will enable us to focus on providing our mold prevention services to the local market and specifically multi-family builders," said Robert Bayer, Corporate Vice President of Sales for American Mold Guard.
According to a May 2007 Wells Fargo economic analysis, Seattle has been enjoying a major residential building boom in recent years, led by an increase in multi-family housing starts. With limited space to build, most of the homes being built in the Seattle metro area are town homes and condos. While single-family starts were down 20.2% from a year ago, multi-family starts were up 55.8%. To meet the rising demand for rental units, apartment construction has also accelerated as years of condo conversions have severely reduced the supply of apartments.
"Increased job growth in Seattle combined with land use laws is spurring multi-family building projects throughout the metro area," said Mark Davidson, President of American Mold Guard. "In Seattle, where moisture is an everyday occurrence, mold prevention is especially critical in new construction. Many multi-family builders are embracing the simple idea that mold prevention can provide protection from the high costs associated with mold remediation and liability," concluded Mr. Davidson.
American Mold Guard helps multi-family developers, single-family and custom builders differentiate themselves from their competition. Prior to the hanging of interior drywall, AMG ensures that all structural surfaces are free from mold and then applies its antimicrobial coating to protect the structure from future mold growth. Additionally, AMG performs a comprehensive inspection after treating a structure, and warrants against future mold contamination.
The AMG warranty is address-specific and transferable to the homeowner, helping mitigate liability for builders. Since most homeowners can no longer get mold coverage through their traditional property insurance, it is AMG's belief that the AMG warranty provides a financial incentive and assurance their home is protected.
About American Mold Guard:
American Mold Guard, Inc. (Nasdaq:AMGI), founded in 2002, is the industry leader in the field of mold prevention services. Its services are primarily focused on the real estate construction industry in California, Texas, Louisiana, Mississippi, Florida, North Carolina and South Carolina, with active expansion throughout the United States. Its customers include many of the largest national and regional homebuilders. Visit: www.americanmoldguard.com.
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Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans and projections regarding the company's financial position, results of operations, market position, product and service development and market strategy. These statements may be identified by the fact that they use words or phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "targets," "will likely result," "will continue," "may," "could" and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, competitive product and service development, future broad market acceptance of antimicrobial surface treatment services, difficulties in raising additional capital in the future, difficulties and delays in establishing the "Mold Guard" brand, the impact of the absence of significant proprietary technology underlying our services, changes in the anticipated size or trends of the markets in which the company competes, judicial decisions and governmental laws and regulations, and changes in general economic conditions in the markets in which the company may compete. For further details and a discussion of these and other risks and uncertainties, see American Mold Guard's periodic reports including current reports on Form 8-K, quarterly reports on Form 10-Q and the company's annual report on Form 10-KSB, furnished to and filed with the Securities and Exchange Commission. American Mold Guard undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.