BURNABY, B.C., Aug. 23, 2007 (PRIME NEWSWIRE) -- American Insulock Inc. (the "Company") (Pink Sheets:AILKF) (CNQ:AIKI.U) is pleased to announce that is has received a letter of intent from a real estate developer located in Oklahoma. The proposed purpose of this letter of intent is to purchase a residential subdivision and to build energy efficient homes, using the INSULOCK blocks.
The project would necessitate the launch of a new division of American Insulock. American Insulock has appointed Mr. Fernando Liorti to head up this new division as General Manager. Mr. Liorti will be further negotiating with the developer in Oklahoma. Mr. Liorti is an experienced international builder and resides in Temecula, California.
The development is a subdivision with 169 residential lots. The subdivision is located in Lawton, Oklahoma. It is near a military base that will have an additional 10,000 soldiers and families move in due to the addition of the Air Defense Artillery School that is moving from Fort Bliss, Texas. The addition of the Artillery School has created a housing shortage. The project could consume more than 250,000 INSULOCK blocks.
The proposed development in Oklahoma will consume a tremendous amount of blocks. In order to provide blocks in a high volume the Company is currently in negotiations with an established manufacturing company that specializes in producing polyurethane parts.
Also, management has completed negotiations with Mr. Kevin Fulkerson, who is currently a consultant of American Insulock, and has appointed him General Manager of the Arizona development division. Mr. Fulkerson, who is a licensed general contractor, has been involved in residential and commercial construction for many years. Arizona is currently experiencing a correction in the real estate market which is making large amount of property available at a low cost. Insulock intends to build "Energy Efficient" homes at a competitive cost.
The management of American Insulock is excited about these new ventures and intends to launch additional development divisions as needed. The building divisions will have the potential to create immediate revenue streams for the Company. Building with ICF's (insulated concrete forms) is becoming quite popular and builders are starting to get pressure to build "Green". Insulock expects to capitalize on the years of experience that it has gained developing the block system
Additionally, Insulock will be delivering a block molding system to "Exocore" in Alberta Canada within the next few weeks. Exocore purchased the molding system from Insulock along with the exclusive rights to manufacture blocks in the Edmonton area. Exocore has developed many new customers in the Edmonton area that will be using the Insulock blocks. Exocore will supply Insulock blocks to Canada.
The Company will continue to produce its block making equipment in Mesa, Arizona.
The Company's core business is the manufacture and distribution of its brand of insulating concrete forms (known as INSULOCK(r) Blocks), together with the equipment that is used to manufacture these blocks. INSULOCK(r) Blocks are made of polyurethane rather than polystyrene (i.e., Styrofoam(r)), which is the material that is used by virtually every other manufacturer of insulating concrete forms. INSULOCK(r) Blocks are much stronger than polystyrene blocks and can be used to construct soundwalls and buildings that are highly effective at absorbing sound and that have an R-30 or R-38 heat insulating value.
For more information, contact Mrs. Enna Keller, Chief Executive Officer, at Tel. (604) 420-1428 and email info@insulock.com, or visit the Company's website at www.insulock.com.
On Behalf of the Board of Directors, American Insulock Inc. Per: "Enna Keller" Chief Executive Officer and Director
Canadian Trading and Quotation Systems Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward Looking Statements
Certain information set forth in this press release, including a discussion of future plans and operations, contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources, as well as risks inherent in operating in foreign jurisdictions, including varying judicial or administrative guidance on interpreting rules and regulations and a higher degree of discretion on the part of governmental authorities. Actual results, performance or achievement could differ materially from those expressed in or implied by these forward-looking statements.