Alternative Energy Partners, Inc.
OTC Bulletin Board : AEGY

Alternative Energy Partners, Inc.

February 22, 2011 14:00 ET

Alternative Energy Partners (AEGY) Announces Record Date for Stock Dividend

MERRITT ISLAND, FLORIDA--(Marketwire - Feb. 22, 2011) - Today Alternative Energy Partners, Inc. (OTCBB:AEGY) announced that, pursuant to a Form 8-K Current Report filed today with the SEC further describing its signed Acquisition Agreement with OCTuS (OTCBB:OCTI), the record date for the related stock dividend will be February 25, 2011.

Per the Form 8-K filed today, OCTuS ("OCTI") will acquire Elan Energy Corp. and Sunarias Corporation from AEGY in exchange for 100 million shares of OCTI's common stock. The OCTI common stock will then be distributed on a proportionate basis to the shareholders of record of AEGY as of the close of business on February 25, 2011, as verified by the records of AEGY's transfer agent. 

The Acquisition Transaction between AEGY and OCTI will allow AEGY to develop its work within particular energy opportunities of interest, including fuel cell installation, solar energy, and water reclamation, while spinning off those companies that do not fit within the immediate strategy. The Acquisition Agreement was previously described by AEGY CEO Jason Davis as being the result of AEGY's strategy, unrelated to the inherent value or potential of the companies being moved into OCTI. AEGY acquired Élan Energy Corp. and its operating subsidiary, R.L.P. Mechanical Contractors, Inc. last year in a transaction with a stated value of $5 million. Sunarias was obtained in a transaction stated at $2 million. The structure of the Transaction allows AEGY shareholders to continue to be part of the ventures they would have invested in under the Alternative Energy Partners umbrella; but shareholders of record as of the record date would thereafter hold stock in both AEGY and OCTI. 

As of today, there are approximately 10,941,000 shares of AEGY issued and outstanding, so each AEGY shareholder of record will receive approximately nine (9) common shares of OCTI for each one (1) common share of AEGY issued and outstanding on February 25, 2011. OCTI common shares closed on February 18, 2011 at $0.044 per share on light volume.

The actual distribution of the OCTI common shares will be completed as soon as two conditions have been met following the closing of the acquisition transaction, which is expected to be on or before March 15, 2011: (1) OCTI has amended its Articles of Incorporation to increase its authorized common stock so that the 100 million shares can be issued; and (2) OCTI has filed a registration statement for the common shares to be issued and that registration statement has been declared effective by the SEC. OCTI has agreed to begin both the amendment and the registration processes prior to the closing to minimize the delay before the common shares can be distributed to the AEGY shareholders. Pending the completion of the two post-closing conditions, Series E convertible preferred stock will be issued to a designated agent who will hold the shares as agent for the AEGY shareholders. The convertible preferred shares convert automatically into 100 million common shares of OCTI as soon as the two post-closing conditions have been met; then the common shares will be distributed to the list of AEGY shareholders at the close of business one February 25, 2011 as reflected in the records of AEGY's transfer agent.

About Alternative Energy Partners, Inc.

Alternative Energy Partners ("AEGY") is focused on sourcing, marketing and distributing renewable alternative energy solutions. AEGY's Xnergy is an award-winning engineering, construction, and alternative energy market leader based in Southern California ( AEGY includes Shovon, LLC (, a provider of remote control energy management systems, and is also poised to enter the European alternative energy market through its Skynet Energy Systems, Inc. AEGY has also announced its intention to acquire Renewable Energy and Water ( from Healthcare of Today. AEGY's goal is to offer a full portfolio of high-performance energy solutions for homes and businesses of all sizes. Alternative Energy Partners is publically traded on the NASDAQ OTC (OTCBB:AEGY). For more information about AEGY, please visit


This announcement is not an offer to sell any Alternative Energy Partners ("AEGY") securities. Offers for any given security are made only through applicable offering circulars and related documents filed with the SEC pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of AEGY may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and includes, without limitation, statements regarding AEGY's plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Forward-looking statements speak only as of the date of the document/oral statement in which it was made. In making any such statements, the person making them believes that his expectations are based on reasonable assumptions; however, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward-looking statements are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements and are mostly out of the company's control. Among these are: general economic conditions, receipt of additional working capital, and acceptability of the company's products in the marketplace as well as other factors set forth in the company's SEC filings. AEGY disclaims any intent or obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.

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