ARET Announces Thursday That its Subsidiary Tomahawk Construction Company is Negotiating a Joint-Venture Contract With the Chickasaw Nation of Oklahoma to Assist Them in Providing Housing for Tribal Members.LENEXA, Kan.--(BUSINESS WIRE)--July 30, 1998--AmeriResource Technologies Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARET A`ret´ v. t. 1. To reckon; to ascribe; to impute. ) announced Thursday that its subsidiary Tomahawk tomahawk [from an Algonquian dialect of Virginia], hatchet generally used by Native North Americans as a hand weapon and as a missile. The earliest tomahawks were made of stone, with one edge or two edges sharpened (sometimes the stone was globe shaped). is negotiating a Joint-Venture contract with the Chickasaw Nation
At present the Chickasaw Nation of Oklahoma has financing available through various programs for the construction of 550 new homes per year for the next five years. Tomahawk will bring project management and general contracting experience to the Joint-Venture Partnership. The long term goals of the partnership is to expand the client base to include the surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. communities and commercial real estate. The home and commercial designs will utilize affordable state of the art technology that will reduce construction time and reduce utility consumption by as much as 60%. It is estimated that the Joint-Venture Partnership will share in approximately $1,500,000.00 per year in profit from this venture. AmeriResource Technologies Inc. is a holding company that through its subsidiaries, is a full service, mortgage, consulting and design/construction firm based in Lenexa, specializing in construction management services and economic development both within and outside the Native American Community. This release may contain forward looking statements that involve risk and uncertainties, including without limitations, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes. The company's dependency dependency In international relations, a weak state dominated by or under the jurisdiction of a more powerful state but not formally annexed by it. Examples include American Samoa (U.S.) and Greenland (Denmark). on financing third party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual reports, offering memorandums Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. , or prospectus.
CONTACT: Barry Denslow or Dick White
Telephone 913/859-9292
Fax 913/859-9520
or
Robert Solarchik
Telephone 800/913-9767
Fax 954/346-5796
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