Trading Symbol: TSX-V: AHL
VANCOUVER, June 19 /CNW Telbec/ - Ameriplas Holdings Ltd. ("Ameriplas" or
the "Company") (TSX-V: AHL) announces that the Company's wholly owned
subsidiary, Ameriplas International Inc. has recovered $25,068 during the 2007
fiscal year (advanced $62,620 during 2006) from a related limited partnership,
of which Ameriplas is the general partner. The Company leases its production
facilities from the limited partnership and has endorsed and guaranteed a loan
liability of the limited partnership, which loan had a balance of $555,940 as
at November 30, 2007 (2006 - $599,260). The loan was used to buy the land and
construct the facilities for the Company. The loan is guaranteed by a 2nd rank
chattel mortgage on the Company's property, plant and equipment and Messrs
Clement and Andre Lussier, directors of the Company, have also personally
guaranteed the loan. Rental charges pursuant to the lease agreement are
deducted from any advances and the funds advanced to the limited partnership
are non-interest bearing with no specific terms of repayment.
The Company has appointed Mr. Edouard Bonaldo as a director, effective
June 16, 2008. Mr Bonaldo is the general manager of the Centre d'Aide aux
Entreprises Haut-Richelieu, QC. and replaces Mr. Mark T. Brown who was a
director from August 2002 until March 17, 2008.
Ameriplas has been in the business of manufacturing plastic preforms for
the Canadian and U.S. water and soft drinks bottling industry since December
1999. Preforms are made from plastic PET (polyethylene teraphthalate) pellets
and sold to beverage companies that heat and blow them into the form of
bottles used for their beverages. PET preforms are used industry wide in the
production of plastic beverage containers to avoid the costs and difficulties
of shipping bulky plastic bottles. A primary use of these bottles is for
bottled water, which is the fastest growing segment of the beverage industry.
Other uses include soft drinks, sports drinks, and beer.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Mr. Clément Lussier, President, (450) 346-7773,