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.
Forward-Looking Statements
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SOURCE: AmeraMex International, Inc.