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FOR IMMEDIATE RELEASE:
Auctions International Inc. Announces Pending Merger
Kelowna, British Columbia: January 27, 2011: Auctions International Inc. (OTC: AUCI), a technology company that owns and markets proprietary software that enables real-time on-line auctions of virtually any commodity in the wholesale market, announced today that the company has signed an agreement to purchase a 10% interest in Amero International Inc. a closely held private corporation registered in the province of Manitoba Canada.
Doug Mann, President and CEO of Auctions International Inc., said, “Amero International has been identified as a likely target for a friendly reverse merger via stock swap and the purchase represents the first stage in this process.
About Auctions International Inc.
Auctions International began as a software company that developed a unique software package that allows virtually any user to set up an on-line, real time, auction floor. Through its wholly owned subsidiary Autobidlive, Auctions International Inc. was set to bring together over 65,000 North American licensed pre-owned auto dealers into a dynamic on-line auction reducing their dependence on physical auctions when the recession and subsequent downturn in the Automotive Industry hit. This forward thinking business model was hit hard by the 2009 market downturn, which had a devastating effect on Automotive Dealerships. As a publicly traded entity, management felt a significant responsibility to restore value to the stock and so put together an advisory board to identify strategies that would insure the survival of the company.
As a company that was Internet based, it was logical to look in the direction of Internet based businesses that had significant cash-flow and were significantly undervalued. After completing significant due diligence on several companies Amero International Inc. was identified as a good fit.
About Amero International Inc.
Amero International Inc. is a closely held private corporation duly registered in the province of Manitoba Canada. The company is an Internet Vendor of quality Mint Items and commodities as well as recreational and leisure products with current annual revenues of approximately $700,000. The company President Jean-Eric Plamondon has several years experience in the start-up of Internet based companies and is experienced in the offshore production and world-wide sale of Quality Mint Collectibles and Investment Pieces (jewelry, coins and antique replicas with varying quantities of gold)
Doug Mann is quoted as saying, "After the 2009 economic downturn, several people worked diligently to find a Business Model that would restore value to our shareholders and a return of credibility to the company. Where several other OTC companies turned off the lights and closed the doors, we continued our search for a new business. It seems our tenacity has been rewarded."
Jean-Eric Plamondon, President of Amero International Inc. says, "This is an excellent opportunity for us and the logical next step in our growth. As our revenues and inventory levels continue to grow, it only makes sense that the public vehicle is the way to go. Given that AUCI is virtually debt free and still trading significant volumes, we see it as a win-win for all participants, especially the current shareholders and new investors."
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, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
For Auctions International, contact:
Doug Mann
President and CEO
Auctions International Inc. dgmann@shaw.ca
250-317-8885
For Amero International Inc., contact:
Jean-Eric Plamondon john@ameroimports.net
President
Amero International Inc.
204-963-5326
FOR IMMEDIATE RELEASE:
Auctions International Inc. Announces Pending Merger
Kelowna, British Columbia: January 27, 2011: Auctions International Inc. (OTC: AUCI), a technology company that owns and markets proprietary software that enables real-time on-line auctions of virtually any commodity in the wholesale market, announced today that the company has signed an agreement to purchase a 10% interest in Amero International Inc. a closely held private corporation registered in the province of Manitoba Canada.
Doug Mann, President and CEO of Auctions International Inc., said, “Amero International has been identified as a likely target for a friendly reverse merger via stock swap and the purchase represents the first stage in this process.
About Auctions International Inc.
Auctions International began as a software company that developed a unique software package that allows virtually any user to set up an on-line, real time, auction floor. Through its wholly owned subsidiary Autobidlive, Auctions International Inc. was set to bring together over 65,000 North American licensed pre-owned auto dealers into a dynamic on-line auction reducing their dependence on physical auctions when the recession and subsequent downturn in the Automotive Industry hit. This forward thinking business model was hit hard by the 2009 market downturn, which had a devastating effect on Automotive Dealerships. As a publicly traded entity, management felt a significant responsibility to restore value to the stock and so put together an advisory board to identify strategies that would insure the survival of the company.
As a company that was Internet based, it was logical to look in the direction of Internet based businesses that had significant cash-flow and were significantly undervalued. After completing significant due diligence on several companies Amero International Inc. was identified as a good fit.
About Amero International Inc.
Amero International Inc. is a closely held private corporation duly registered in the province of Manitoba Canada. The company is an Internet Vendor of quality Mint Items and commodities as well as recreational and leisure products with current annual revenues of approximately $700,000. The company President Jean-Eric Plamondon has several years experience in the start-up of Internet based companies and is experienced in the offshore production and world-wide sale of Quality Mint Collectibles and Investment Pieces (jewelry, coins and antique replicas with varying quantities of gold)
Doug Mann is quoted as saying, "After the 2009 economic downturn, several people worked diligently to find a Business Model that would restore value to our shareholders and a return of credibility to the company. Where several other OTC companies turned off the lights and closed the doors, we continued our search for a new business. It seems our tenacity has been rewarded."
Jean-Eric Plamondon, President of Amero International Inc. says, "This is an excellent opportunity for us and the logical next step in our growth. As our revenues and inventory levels continue to grow, it only makes sense that the public vehicle is the way to go. Given that AUCI is virtually debt free and still trading significant volumes, we see it as a win-win for all participants, especially the current shareholders and new investors."
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, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
For Auctions International, contact:
Doug Mann
President and CEO
Auctions International Inc. dgmann@shaw.ca
250-317-8885
For Amero International Inc., contact:
Jean-Eric Plamondon john@ameroimports.net
President
Amero International Inc.
204-963-5326
