HOUSTON and KEMAH, Texas, Aug. 01, 2016 (GLOBE NEWSWIRE) -- American International Industries, Inc. (OTC:AMIN) today announced that its wholly owned subsidiary, American International Texas Properties, Inc. entered into a contract for sale of the 15.80 acres on Airport Blvd in Houston, Harris County, Texas. The property is being purchased for the purpose of building a school.

The cash consideration for the tract of land is $1,548,558.00. The earnest money contract has been deposited with Alamo Title Company. The closing of the sale of the land is scheduled for 90-days from the date of the contract with two 30-day extension provisions. The closing of the transaction is subject to the normal due diligence period.

The company previously announced on March 23, 2016 the sale of two other properties, 65 acres and 96 acres. The closing of the sale of these two properties have been extended for an additional due diligence period.

American International Industries, Inc. is a diversified holding company which operates autonomously from its subsidiary companies with interests primarily in real estate. In addition to its present holdings in the energy field the company is searching for potential acquisitions and exploration of petroleum resources in the United States. The vision of the Company is to expand its interests in the energy sector through the acquisition of existing assets, and apply its financial resources and management expertise to improve each of its independent subsidiary’s revenues, operations and profitability.