American Ammunition Receives Canadian Authorization to Ship Product
American Ammunition, Inc. (OTCBB:AAMI) announced today that it received its Certificate of Authorization from the Chief Inspector of Explosives of Canada authorizing it to ship product into the country. This will enable AAMI to freely negotiate contracts with interested Canadian buyers.
Andres Fernandez, President and CEO of American Ammunition, Inc. stated, “We have been anxiously awaiting this approval. With this approval and the benefits of NAFTA, we feel that we can expand our sales and provide an economical alternative to the people of Canada.”
About American Ammunition, Inc.- AAMI is an autonomous manufacturer of ammunition, with the technology and equipment to take advantage of the growing market. It has an excellent reputation within the industry. The ammunition industry has experienced a 28% average increase in revenues annually between 1991 through 1998, and the trend is expected to continue through the year 2005 and beyond.
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements.