American International Industries Inc. (OTCBB:AMIN) signed a letter of intent to acquire 5% in Timber and Agricultural concessions in Cameroon from the owners in stock on August 29, 2011. As consideration, American International will issue stock of newly-organized entity Africa Ag Corporation The deal is expected to close in fourth quarter 2011. Post acquisition, the owners of Timber and Agricultural concessions will have 95% in Africa Ag Corporation. American International Industries Inc. will provide Africa Ag Corporation with executive and administrative services in exchange for a cash management fee.

American International Industries Inc. (OTCBB:AMIN) cancelled the acquisition of 5% in Timber and Agricultural concessions in Cameroon from the owners on August 29, 2012.