CHEYENNE, Wyo., July 18, 2006 (PRIMEZONE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce that its wholly owned subsidiary, The Wood Explorer, Inc., will be spun off to the share holders of Amelot Holdings, Inc.
The record date for the spin off will be the close of business July 31, 2006. The terms of the spin off are as follows: All stockholders of record will receive, pro-rata, a stock dividend of one share of The Wood Explorer, Inc. for every five-thousand shares of Amelot Holdings, Inc. held on the record date (no fractional shares will be issued). The restricted shares in the spin-off subsidiary will be distributed to the shareholders of Amelot Holdings thirty days after the record date.
Aziz Hirji, President of Amelot Holdings, commented, "This dividend is a way to show our shareholders that we are serious about giving back to those who have helped support Amelot Holdings and its efforts. The new independent structure will offer benefits to both companies. The spin-off will allow Amelot Holdings to focus on its core business of Bio-fuels. We feel its funding and operational requirements are better met if it were a separate company. Furthermore, the spin-off will provide an equity building transaction for all stockholders."
Further information on The Wood Explorer, Inc. can be viewed at http://www.woodexplorer.com
About Amelot Holdings, Inc.
Amelot Holdings, Inc. is a diversified holding company focused on Alternative Energy and Bio-fuels.
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.