Market Overview

Auscrete Corp (ASCK) to open plant with Canadian Group in Ontario, Canada


GOLDENDALE, Wash., July 24, 2018 (GLOBE NEWSWIRE) -- US based Auscrete Corporation (OTC:ASCK) is in final stages of conclusion to plans to set up a 75 percent company owned production plant with a Canadian Investment Group taking a 25 percent interest in the Canadian Based facility. The factory will be a similar version of the company's WA head office facility and will be located near London, ONT.

The Canadian Investment group headed up by Mr. Spiro Sapounas from London, ONT has had meetings with the State and Federal Governments because the project ticks many of the boxes that make it suitable for Government financial involvement and assistance. Top of the list is the ability to fill a need for Affordable Housing throughout Canada as ASCK's products are produced in a way that ensures consistent quality and equitable cost.

However, Mr. Sapounas added that there are many other advantages that make this a good fit for the area. The factory will be just north of the border with the US and this opens up the Northeast US to importing ASCK's building products for construction of affordable housing throughout the Northeast. Auscrete had originally planned a factory in Rockford, IL. that was accessible to the area, but the company believes this will not be necessary with the Company's Canadian Plant so close by. ASCK believes this will allow the company to concentrate on placing an additional plant in the Southern US instead.

Other advantages outlined by Mr. Sapounas include employment that the company will bring to the area. Such a plant producing building products for 300 houses per year will employ upwards of 150 people directly which also produces many additional jobs in the supply and support industries as well. He added "Our investment group has seen the shrinking availability of affordable housing for years and the Auscrete product will make a significant difference in areas of multiple housing and single-family homes, so everybody is very excited about this opportunity to help people get into their own home and, of course, the ensuing long-term investment outlook."

Mr. Sapounas also stated that "the Canadian government has interests in the Caribbean, and in particular, Cuba, and having a plant in Ontario would enable Canada to set up facilities to help Cuba address their extreme housing crisis, much in the same way as Auscrete in the US is approaching the same problems in Jamaica. The advantages of this venture are many fold".

ASCK spokesman Lee Odom was quoted as saying "based on the conservative model of projections for this facility with a 12-month production level of 300 homes, Annual Revenues of $45 million is expected. Also, those conservative estimates are based on 1,500 sq. ft. homes whereas most are above that average, so in reality, that number could be higher depending on the demographic region."

Be sure to listen to the recent interview of ASCK on Small Cap Voice  

Be sure to see the new corporate profile with Network Newswire

And follow all the exciting updates regarding the launch of the flagship facility on the Auscrete Blog

About Auscrete Corporation:

Auscrete Corporation (OTC:ASCK) is a building materials manufacturing company and constructor of "GREEN" energy efficient housing and commercial structures built from Auscrete developed lightweight hybrid concrete/insulation wall and roof panels. Structures built of this medium have very low maintenance needs and, being concrete, are highly resistant to insects and mold. They have considerable mass and are highly resistant to hurricane forces and earth tremors. They will not catch fire and burn. Auscrete is planning to establish their Flagship Facility in Goldendale, WA.

Safe Harbor Statement:

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company's identity protection software products into various channels and market sectors, the issuance of the company's pending patent application, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Lee Odom
VP of Business Development
Director of Investor Relations
Phone: 305 853 8404

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