AUCI HUGE NEWS OUT!!
AUCTIONS INTERNATIONAL INC. Will Become a Full Disclosure Company As Defined by OTC MARKETS
Apr 10, 2012
OTC Disclosure & News Service
Kelowna, BC, Canada -
AuctionsInternational, Inc. (“Auctions The Company”)
(PINKSHEETS:AUCI)
announced today that as part of the final closing of the purchase of Amero International, it will become a “Full Disclosure” Company on OTC – PINKSHEETS as defined by OTC Markets. This will involve the publication of the Corporate Business Plan and other filings as required for the designation. It is the company's intention to have these filings complete by April 30, 2012 thereby making the company fully compliant with OTC guidelines.
About Auctions International, Inc.
On January 15, 2011, Auctions entered into a share exchange agreement to acquire 100% of the issued and outstanding shares of Amero International, Inc.("Amero"), a private Manitoba based corporation. The agreement obligates both companies to complete the share exchange transaction, subject to certain conditions, including execution of the agreement by the Amero shareholders, with the result being that Amero will become a wholly owned subsidiary of Auctions. At the closing of this formal agreement, all the shareholders of Amero will be issued two hundred and fifty thousand shares of Auctions for every one share of Amero that they hold as at the closing date. Amero Shareholders have requested that shares for purchase of the company be issued over a period of time as yet to be designated, so as to not excessively dilute the existing AUCI share pool.
About Amero International Inc.
Amero International Inc. is a closely held private corporation duly registered in the province of Manitoba,Canada and Amero International is in the process of merging with Auctions International. Amero International Inc. has several divisions and product lines. This diverse company is involved in the manufacture, wholesale distribution, and both wholesale and retail sales via the Internet, of products ranging from outdoor recreational products to fine detail collectibles including precious metal mint items.
Amero International has current annual revenues of approximately $1.5 million with net revenues of over$600,000 and has a well planned and aggressive growth strategy. Amero International is the sole owner of CMC Mint with manufacturing facilities in China, warehousing in China, the USA and Canada.Company President Jean-Eric Plamandon has several years experience in the start-up of Internet based companies and has extensive experience in offshore production and world wide sales and distribution of quality mint collectibles and investment pieces (jewelry, coins and antique replicas with varying quantities of gold and other precious metals).
This press release contains or may contain forward-looking statements such as statements regarding the company's growth and profitability, growth strategy, liquidity,access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertain ties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
Contacts:
Amero International Inc.
Jean-Eric Plamandon
President
204-963-5326
john@ameroimports.net
www.cmcmint.com
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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