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American Metals Recovery & Recycling Inc. Update

FORT MYERS, FL / ACCESSWIRE / June 8, 2016 / American Metals Recovery & Recycling Inc., (OTC: AMRR) - During 2015, management initiated a reorganization process, divesting its unprofitable Missouri operating subsidiaries. In Q1, 2016, we shifted our strategy to pursue the Florida market, and acquired ATM Metals, entering into business in the Northeast Florida market.

"We continue to focus the majority of our attention on our newly acquired yards in Cocoa, Titusville and Palm Bay," stated Gordon Muir CEO, "and in parallel, bringing our financials and filings current - in preparation for consummating additional potential acquisitions in other, selected markets in Florida."

For the first quarter of 2016, unaudited revenues for the ATM operations were $927,883. The combination of weak export demand, constrained supply conditions, seasonal slowdowns and the higher level of steel imports contributed to a challenging first quarter. Significantly weaker export demand led to ferrous and nonferrous sales prices falling to multi-year lows during the quarter. The lower price environment adversely impacted scrap flows and compressed metal spreads. We are implementing cost reductions and productivity initiatives in order to offset the margin compression created by the weak market environment.

About American Metals Recovery & Recycling: We are a dedicated team of professionals in the metals recycling industry. Our goal is to provide new innovations to a fragmented industry - translating to revenue growth and enhanced shareholders' value. Our acquisition strategy is to continue to acquire recycling companies and optimize their productivity.

The Private Securities Litigation Reform Act of 1995 (the Act) provides a safe harbor for forward-looking statements made by or on behalf of the Company. Statements in this news release, which relate to other than strictly historical facts, such as statements about the Company's plans and strategies, expectations for future financial performance, new and existing products and technologies, anticipated clinical and regulatory pathways, and markets for the Company's products are forward-looking statements within the meaning of the Act. The words "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements that speak only as of the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors including, but not limited to, the Company's continuing operating losses, uncertainty of market acceptance of its products, reliance on third party manufacturers, accumulated deficit, future capital needs, uncertainty of capital funding, dependence on limited product line and distribution channels, competition, limited marketing and manufacturing experience, risks of development of new products, regulatory risks and other risks detailed in the Company's most recent Annual Report on Form 10-K and other Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements.


ReleaseID: 440915

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