CHEYENNE, Wyo., June 19, 2008 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) takes great pleasure in announcing that the company has come to an initial agreement with an undisclosed company in Ghana for the development of an initial 100,000 hectare Jatropha plantation. The consulting firm's name was withheld as to help Amelot negotiate a 49-year lease with the land owners, organize local licenses, and provide initial logistics for the project.
The consulting firm will be responsible to ensure Amelot has all of the appropriate permits to form a company and then conduct Jatropha cultivation inside the sovereign country of Ghana. Ghana is considered a prime growing location for Jatropha; additionally, Ghana has access to sea shipping that will allow inexpensive transport of Amelot Jatropha oil around the world.
When the plantation reaches maturity, the 200 million Jatropha trees on the plantation will conservatively produce 100 million gallons of Jatropha oil annually. Also, the 100,000 hectare plantation will create at least 2,200 jobs initially for the local community and create a new infrastructure that is desperately needed for the local economy.
"This is just the first step in setting up our plantation in Ghana," said Aziz Hirji, President and CEO of Amelot Holdings, Inc. "It can prove difficult for outside companies to work within the borders of countries like Ghana. There are rules and laws that must be abided by while working in foreign locations. Due to these restraints, this partnership is a vital part of our development and will ensure that we conduct business properly and ethically under the rule of law in Ghana. As developments warrant, Amelot Holdings, Inc. will release details of the progress on this project. Amelot is continuing to aggressively pursue its business plan and looks forward to continuing the open communication between the company and its shareholders."
About Amelot Holdings, Inc.:
Amelot Holdings, Inc. (http://www.amelotholdings.com), a publicly traded company, is a diversified holding company that has identified a projected $20 billion industry to manufacture renewable fuels to supply the growing demand and to reduce the dependency and environmental impact of fossil fuels.
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.