LAS VEGAS, Feb. 26, 2003 (PRIMEZONE) -- Charles B. Layton Sr., President of AmeraMex International Inc.(Pink Sheets:AMMX) signed another exclusive timber contract to purchase all the available timber from the Ejido Day Laguana Hanson with a potential of over 10,000,000 additional board feet from this group. Permits have been issued in contiguous sections, the first permit being 600,000 board feet for removal of the dead and dying trees. The Company has begun to harvest this section and will increase its production next week.
AmeraMex is rapidly expanding facilities in Baja California to meet its high demand and is in an excellent position to dominate many of the developing markets. Last year according to the North American Pallet Association it was estimated that over 24 million dollars in pallet sales were made in the Baja Peninsula. Most of this lumber came from Canada. AmeraMex has a distinct advantage over foreign lumber in that its lumber is local and may have a cost savings of over 30% in transportation and labor costs as compared to others.
AmeraMex International Inc. currently provides timber to the United States and lumber to the local Mexican markets.
More information can be found on AmeraMex's Web site: http://www.ammx.net.
Safe Harbor Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products in domestic and international markets will continue and expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Statements made herein are not a guarantee of the future corporate or stock performance.