AMERICAN INTERNATIONAL INDUSTRIES, INC.
(NasdaqCM: "AMIN")
601 CIEN STREET, SUITE 235, KEMAH, TX 77565-3077
Tel: (281) 334-9479 Fax: (281) 334-9508
www.americanii.com email: amin@americanii.com
FOR IMMEDIATE RELEASE
AMERICAN INTERNATIONAL INDUSTRIES, INC. TO FORM DESALINATION SYSTEM
JOINT VENTURE WITH CENTRIFORCE TECHNOLOGY CORP.
Houston / Kemah, Texas – November 23, 2009 American International Industries, Inc. (NasdaqCM: AMIN) Mr. Daniel Dror, Chairman and CEO, announced that AMIN has continued negotiations with Centriforce Technology Corp. subsequent to the Letter Of Intent (LOI) signed on November 2, 2009. Both parties are discussing the development of a Joint Venture (JV) through a new entity to operate in the water desalination industry.
The purpose of the JV would be to build and install a commercial desalination plant utilizing Centriforce Technology’s advanced design that has been proven to be more efficient than existing technologies. Because of the efficiencies of Centriforce Technology’s unique technology, the JV would be in position to profit from operating the plant and selling potable water under contract with municipalities and industrial clients.
"AMIN sees the investment and participation in the potential JV to be a major step in establishing a new segment in the rapidly growing water desalination industry", stated Daniel Dror, Chairman and CEO. He added that "With these negotiations, AMIN is actively pursuing our potential plan to become a leader in the potable water industry."
AMIN continues to search for potential opportunities in the potable water industry that will provide great potential for growth, humanitarian solutions and profitability.
American International Industries, Inc. is a diversified holding company, with a business model similar to General Electric, Tyco International, and Berkshire Hathaway. The Company has holdings in Industry, Finance, and Real Estate in Houston Texas and surrounding areas, and Oil & Gas. The vision of the Company is to develop holdings in various industries through acquisition of existing companies, applying the financial resources and management expertise to foster the growth and profitability of the acquired businesses. The holding company serves as a financial and professional partner to the management of the subsidiaries. The role of the holding company is to improve each subsidiary’s access to capital, achieve economies of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate personnel across all units. The Company is continuing to work with management of the subsidiary companies to improve revenues, operations and profitability.
Private Securities Litigation Reform Act Safe Harbor Statement:
The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended that involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate in each of our segments reflected by our subsidiaries' operations include without limitations, continued value of our real estate portfolio, the strength of the real estate market in Houston, Texas as a whole, continued acceptance of the Company's products and services, increased levels of competition, new products and technology changes, the dependence upon financing, third party suppliers and intellectual property rights, the rules of regulatory authorities and risks associated with any potential acquisitions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof.
Investor Relations: Rebekah Ruthstrom at Tel: 281-334-9479 or email: amin@americanii.com