CHEYENNE, Wyo., April 22, 2008 (PRIME NEWSWIRE) -- Amelot Holding, Inc (Pink Sheet:AMHD) announces today that it has come to an agreement, in principal, to purchase Native Sun NRG of the Island of Barbados. The letter of Intent has been signed and a closing is planned as soon as the legal details are confirmed.
Native Sun NRG is fully operational and has been producing biodiesel from used vegetable oil for almost two years. Forrest "Bud" Stacy, CEO of the recently announced Amelot acquisition of TRB, has made recommendations that a modest investment of equipment and training into this facility will increase production more than five-fold within the next 12 months. Initial acquisition costs, including capital investment, will be paid back within 18 months of operation.
NRG is wholly owned by its creator/entrepreneur Mr. Handel Callender who holds many awards of science and entrepreneurial merit. He has earned merits from his home country of Barbados, as well as a highly competitive monetary award from the United Nations. More information about this new project will be announced as developments occur.
The company would also like to take this time to address another corporate issue. In March 2008, Amelot announced that it did not intend to further increase the company's outstanding share count in the near term. Since that announcement, however, some opportunities have been presented to the company that should be instrumental in achieving our corporate growth goals, as well as increasing shareholder value. These prospects, such as NRG and TRB, are vital to our plans and are worth funding with some corporate equity.
Aziz Hirji, President, stated, "We could not be more pleased with this opportunity in Barbados. We feel this addition to our company will provide us and our shareholders with the necessary tools to be truly successful in the biodiesel industry." Aziz Hirji further added, "As far as shareholder value, decisions to increase the company's stock are made prudently. As a majority shareholder, I understand the effects of stock dilution, and can assure you that stock is not issued unless it is for the betterment of the company. To allow a better understanding of our corporate investments, we will soon be providing a complete and informative update that will outline our progress and successes over the last few months."
About Amelot Holdings, Inc.:
Amelot Holdings, Inc. (http://www.amelotholdings.com), a publicly traded company, is a diversified holding company that has identified Biodiesel 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.