CHEYENNE, Wyo., May 10, 2006 (PRIMEZONE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) announces that the company is reviewing the terms and conditions for a $30 Million financing proposal. Based upon initial due diligence provided to Remington Financial Group, a Letter of Interest for Amelot's Bio-Diesel subsidiary, Amelot Alternative Energy, Inc. was received on Friday, May 5th, 2006.
Aziz Hirji, President of Amelot Holdings, Inc. stated, "Legal counsel is currently reviewing the recent proposal. We expect to be receiving additional offers in the near future. Our goal is to negotiate terms and conditions that fit Amelots' growth strategy that benefits both the company and its shareholders."
About Amelot Holdings, Inc.
Amelot Holdings, Inc. is a diversified holding company focused on acquiring under-valued, high-growth firms and properties in the natural resource industry. For more information on Amelot Holdings Inc. Visit www.amelotholdings.com. Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
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