CHICO, CA / ACCESSWIRE / July 6, 2020 / AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction and forestry conservation, announced that it has entered into a rental agreement totaling $108,000 annually.
The order is for a 40,000-pound capacity Taylor Machine Works’ forklift which will ship to a port facility in Seattle, WA this week. The rental agreement is for 12 months with the option to purchase for $180,000.
The Company also announced the bid price for its common stock has closed below $0.01 for more than 30 consecutive calendar days and currently does not meet the Standards for Continued Eligibility as per the OTCQB Standards, which states that the company must "maintain proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $.01 per share on at least one of the prior thirty consecutive calendar days."
The company has been granted a cure period of 90 calendar days (September 29, 2020) during which the minimum closing bid price for the Company’s common stock must be $.01 or greater for ten consecutive trading days in order to continue trading on the OTCQB marketplace.
CEO Lee Hamre commented, "We have persisted through a number of setbacks to be listed on the OTCQB. The current Covid-19 virus situation has caused our sales to slow down but activity is picking up once again as companies are returning to work. We feel that with increased sales and additional exposure within the financial community, the price of our common stock will once again be trading over the OTCQB standard for continued eligibility. We appreciate our shareholders’ continued support."
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 corporate information, online heavy equipment inventory/ pricing and 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.
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SOURCE: AmeraMex International, Inc.
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