HOUSTON and KEMAH, Texas, July 19, 2010 (GLOBE NEWSWIRE) -- American International Industries, Inc. (Nasdaq:AMIN) held its annual meeting on July 14, 2010 at Landry's, #1 Kemah Boardwalk, Kemah, Texas. We are pleased to announce that 9,087,197 shares were voted at the meeting, representing 88% of all shares issued and outstanding and more than a majority of the votes cast were in favor of, approved, ratified and voted FOR (i) the election of all five Directors; (ii) the engagement of GBH CPAs, PC as Independent Auditors for 2010 and (iii) the Company's 2010 Employee Benefit Plan.
In addition, we are also pleased to announce that on July 14, 2010, the Company's Board of Directors appointed Scott Wolinsky to its Board and as a member of its Audit Committee. Mr. Wolinsky is a Registered Patent Agent, Electrical Engineer, Inventor and former Primary Patent Examiner with over sixteen years of related patent experience, having worked as an Electrical Engineer at various satellite and military aircraft companies and for the United State Patent and Trademark Office. With the appointment of Mr. Wolinsky as the third member of the Audit Committee, the Company meets the NASDAQ requirement of having at least three independent directors on its Audit Committee.
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.