VANCOUVER, WA — (Marketwire) — 03/06/13 — All American Energy Holdings, Inc. (PINKSHEETS: AAEH) announced its agreement to merge with integrated propane company All American Propane, Inc. and Start Trucking, Inc. in an all-stock transaction contingent upon completion of audits of the two companies. Dick Start, founder and controlling shareholder of all the entities, will serve as Chairman of the Board and Steve Amdahl shall continue as CEO and President.
The company expects consolidated financials to show profitability, positive cash flow, and annual sales of over $10 million. All American Propane and Start Trucking will immediately conduct audits of the past two years of their financial records by a PCAOB accredited auditor.
“We see a market opportunity created by over-consolidation of major national propane brands and intend to respond by expanding our delivery of superior service, lower cost of ownership and greater overall value for consumer and industrial propane users by sector and by region,” stated Steve Amdahl. “Consolidation of these financials will help improve aggregate profitability and will streamline access to growth capital.”
The Company intends to grow through expanded market share amongst all verticals within its region of Central Washington and through expansion into other opportune Northwest regions and sectors such as resource exploration and production.
Founder and Chairman Dick Start who has also served as Northwest Propane Gas Association President built the company into the regional leader it is today. As former head of business development in the region for Heritage Propane, he is considered an industry pioneer.
Propane is amongst the cleanest burning of all fossil fuels and is used by millions of Americans each day for furnaces, water heaters, air conditioners, outdoor grills, fireplaces, and appliances. On farms, propane-fueled equipment and technologies control pests, dry crops, and power irrigation pumps. Industrial uses include propane-driven forklifts and fleet vehicles and millions of commercial establishments, including restaurants and hotels that depend on propane for heating, cooking, and other uses.
In addition to propane sales and distribution, the Company will continue to grow its profitable Buy-and-Lease-Back effort which currently manages nearly 3,500 propane tanks of sizes up to 60,000 gallons.
About All American Energy Holdings
All American Energy Holdings– sole current subsidiary is wholly owned All American Leasing Inc. which owns and services equipment including 3,500 propane tanks of sizes between 50 gallons and 60,000 gallons. The company is committed to expanding regional and national use of propane as a clean, and low cost source of fuel. More information may be found at and .
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Contact Information:
Gary Patterson
Investor Relations
(714) 369-2933