COSTA MESA, Calif., March 22, 2002 (PRIMEZONE) -- E.G. Marchi of VPN Communications Corporation (OTCBB:VPNN) announced today that VPN had acquired control of AmeraMex International Inc. (OTCBB:AMMX) as a result of a private exchange of securities by its Joint Venture partner, A.M.F.S. Limited. AmeraMex presently processes forestry products in Mexico, and has land for a sawmill site in Ojos Negros, 35 miles east of Ensenada. AmeraMex sells lumber in Mexico and the United States.
E.G. Marchi, on behalf of the Board of Directors, stated, "The acquisition of control of AmeraMex and its rights to vast forestry resources in Mexico is another progressive step, following the acquisition of Southwick, towards capitalizing on emerging opportunities to acquire qualified companies with substantial producing assets for stock, while enhancing shareholder values."
Mr. Marchi went on to say, "This acquisition opens the doors to international business activities for the corporation. As we said before, this venture into the natural resources market is now taking place in the context of a newly emerging economic climate in Mexico. This new direction for the company is a direct result of our participation in the prior AMFS Limited Joint Venture. However, it represents such a significant step forward for VPN that management has elected to focus on it and not to pursue further AMFS joint venture activities. Accordingly, VPN has withdrawn from AMFS."
Mr. Marchi concluded, "Plans for the exploitation of this new opportunity include financing the activities of AmeraMex and acquiring further equipment and facilities for timber and forestry products. VPN intends to aggressively develop and enhance the financial condition of AmeraMex to enable it to achieve its goal of becoming a major supplier of forestry products internationally, and to develop its asset and revenue base to qualify it for listing on a major exchange."
A number of statements contained in this Report are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of timber products and related technologies, competitive market conditions, the ability to secure additional sources of financing, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results the Company achieves may differ due to such risks.