AmeriResource Technologies, Inc. Announces It Has Completed the Acquisition of Crestwood Management Company, Inc. and Crestwood Villas, Inc.Business Editors ROLLING MEADOWS Rolling Meadows, city (1990 pop. 22,591), Cook co., NE Ill., a suburb of Chicago; inc. 1955. There is research and development and the manufacture of office supplies and electronic components. , Ill.--(BUSINESS WIRE)--March 8, 2000 Delmar Janovec, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AmeriResource Technologies, Inc. (ARET A`ret´ v. t. 1. To reckon; to ascribe; to impute. ) announced today that AmeriResource Technologies, Inc. has closed escrow and concluded the acquisition of Crestwood Management Company, Inc. and Crestwood Villas, Inc. The transaction completes the first phase of the planned acquisitions announced in late December, 1999. The transaction was concluded as a reverse merger with the Crestwood shareholders receiving stock, although exact terms were not disclosed. Mr. Janovec, Chairman & CEO of AmeriResource Technologies, Inc., commented, "This is a major step in our long term development plan for our Company. Mr. George Wilson George Wilson is a human name, and may refer to:
Mr. Janovec further stated, "This is a very exciting time for our company. We have assembled an outstanding management team and are now positioned for becoming a national leader in providing quality living services on a national basis. We are in the final stages of concluding strategic relationships which will allow us to be a major national developer of assisted care living facilities, residential apartments, adult resort lifestyle communities, and additional construction projects under 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). Construction Company. We intend to aggressively pursue construction projects across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in which we will maintain an equity interest to continue to build shareholder value. Our new office facilities are almost completed along with our web site which will provide the shareholders a reference point to keep track of our future growth." The Company also announced that we have concluded a three (3) year agreement with Jay, Dello & Associates, Ltd. to provide direct construction related financing for all our projects or arrange for commercial lenders to provide construction financing for our forthcoming projects. Mr. George Wilson, acting President of Crestwood Villas, Inc. and Crestwood Management, Inc. commented, "The potential of this organization is excellent and I am proud to now be affiliated with this management team. I think the future is bright for this company." Statements in this press release include forward-looking statements that include risk and uncertainties. The forward-looking statements in this press release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially due to a variety of factors, including without limitation the Company's ability to produce and market certain products and/or services and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. |
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