CHEYENNE, Wyo., May 7, 2008 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) today announced the formation of its new subsidiary, Amelot Oil, Inc. ("AOI")
This new subsidiary was formed in order to focus on the biodiesel production aspect of the company's business plan. All worldwide feedstock and fuel production revenues will fall under this newly formed subsidiary, including the recently announced Three Rivers Biofuel acquisition and the Native Sun NRG of the Island of Barbados. The company hopes to announce more potential projects under this new subsidiary in the near future.
Amelot Holdings, Inc. wishes to clarify that Jatropha Biofuels Technologies, Inc. (JBTI), another subsidiary of Amelot Holdings, Inc., will remain focused on the technology side of the business. Revenues generated from the DynaSep Project, plant cloning projects, and other technology based endeavors will remain under this Jatropha subsidiary.
"I am very excited to share this news with all of our shareholders and investors," stated Aziz Hirji, President of Amelot Holdings, Inc. "This is one of the many steps we feel we must take in order to reach our growth projections. Focusing on all production projects under AOI, and all technology projects under JBTI, will allow us to become more efficient as our revenue streams develop." Mr. Hirji went on to say, "In the future, our goal is for all Amelot subsidiaries to become successful enough to act as separate functioning companies, each potentially trading publicly on their own."
About Amelot Holdings, Inc.:
Amelot Holdings, Inc. (http://www.amelotholdings.com), a publicly traded company, is a diversified holding company that has identified Bio-diesel as a $20 billion emerging market. Amelot plans to have a significant market share in growing low cost feedstocks to supply the growing demand for biodiesel, to reduce energy dependency of fossil fuels, to help reduce the U.S. dependency on foreign oil supplies and reduce the impact of energy on our environment.
The Amelot Holdings, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2149
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.