CHICO, CA / ACCESSWIRE / February 12, 2020 / AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction and forestry conservation, announced that its Board of Directors has approved a program to repurchase up to 50 million shares of the Company's common stock. The purchases will be made at the discretion of the Company through an open market repurchase. The total volume of purchases made on any single day must not exceed 25 percent of the average daily trading volume reported during the four calendar weeks preceding the week in which the purchase is to be made.
Chairman and CEO Lee Hamre said, "We have decided to implement this buy back based on our view that the price of the stock does not accurately reflect the value of the Company and its increasingly positive prospects. We believe this program is a very important step in increasing shareholder value." The repurchase will be made with cash on hand.
About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. AmeraMex, with a US and international customer base, has over 30 years of experience in heavy equipment sales and service. Follow AmeraMex on Twitter @ammx_intl and visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com for additional information and equipment videos.
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
Office: 949.632.1900 or [email protected]
SOURCE: AmeraMex International, Inc.