HOUSTON and KEMAH, Texas, Feb. 3, 2010 (GLOBE NEWSWIRE) — Mr. Daniel Dror, Chairman and CEO of American International Industries, Inc. (Nasdaq:AMIN), announced today that an earnest money contract has been entered into between Nestle Products Corporation (“Nestle”), a wholly-owned subsidiary of American International Industries, Inc., and REIT Partners, LP., the Buyer, pursuant to which a 8 acre tract of land on Airport Blvd. in Houston, TX, out of a larger 42 Acre Nestle-owned tract, is being sold to the Buyer for cash consideration of $450,000. The company received a non-refundable cash deposit. The Buyer is purchasing the property in order to develop a multifamily apartment complex.
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Nestle Products Corporation, a Wholly-Owned Subsidiary of American International Industries, Inc., Signs Contract to Sell 8 Acres of Land in Houston, TX
