VIPR Industries Completes Audit, Initiates Drafting of Registration Statement to Prepare for Move to OTCBB Exchange
August 05 2008 - 2:30AM
Marketwired
TORONTO, ONTARIO (FRANKFURT: VIN) ("VIPR") is pleased to report
that certified accounting and audit firm Chisholm Bierwolf &
Nilson CPA has completed its audit of VIPR's 2006 and 2007
financial statements. Completing the audit is a critical milestone
in VIPR's preparations to become a fully reporting issuer trading
on the OTC Bulletin Board. The Company has also initiated efforts
to draft a registration statement for submission to the Securities
and Exchange Commission.
Mr. Mike Gerstner, President & CEO of VIPR Industries,
commented: "At VIPR Industries we are fully committed to corporate
integrity and transparency. We are working to elevate our listing
from the Pink Sheets to the OTCBB, holding ourselves to higher
standards of financial reporting and shareholder communication. We
believe moving to a higher exchange will enhance VIPR's ability to
raise awareness in the investment community, increase our access to
capital and provide detailed disclosure for the benefit of current
and potential shareholders."
As announced, VIPR has completed the acquisition of its Singida
Gold Property located directly adjacent to and along strike from
Shanta Gold Limited's Singida Project where Shanta has identified
an indicated resource of 543,000 ounces of gold valued at an
estimated $500 million. VIPR has also closed the acquisition of the
Itigi Manyoni Uranium Property where airborne radiometric surveys
have identified uranium anomalies indicating strong potential for
significant uranium mineralization.
A substantial increase in mineral output led by gold along with
a rise in industrial production has created long-term growth in
Tanzania. The east African country achieved real GDP growth of 7.3%
in 2007, up from growth of 6.7% in 2006 (Oxford Economic Country
Briefings, May 21, 2008). Tanzania features a stable government,
favorable investment policies and mineral-rich geology.
About VIPR Industries Inc. (PINK SHEETS: VIPR)(FRANKFURT:
VIN)
VIPR Industries Inc. is a precious metals exploration and
development company focused on Gold, Uranium, and other high
quality precious metal resources and reserves through mergers,
acquisitions and resource development.
Cautionary "Safe Harbor" Statement: Under the Private Securities
Litigation Reform Act of 1995. Some of the information included in
this press release and other documents by VIPR Industries Inc. (as
well as information included in statements made by its
representatives, about information about the business it is engaged
in or proposes to engage in or about acquisitions) may contain
forward looking statements. Such statements may refer to other
adjacent properties and company's and their announced / reported /
released estimates. Although VIPR is encouraged from its
property(s), there is no assurance that the same or similar
results, or mineralization will be found on VIPR's property(s).
Forward looking statements that do not relate strictly to
historical or current facts, often will be phrased in the future
tense and may include the words "may," "could," "should," "would,"
"believe," "expect," "anticipate," "estimate," "intend," "plan" or
other words or expressions of similar meaning. Forward looking
statements that relate to VIPR Industries Inc. ("VIPR") or its
present or proposed business are based on VIPR's current beliefs
and expectations about future events and include statements that
reflect management's beliefs, plans, objectives, goals,
expectations, anticipations and intentions with respect to VIPR's
financial condition, results of operations, future performance and
business, including statements relating to VIPR's business strategy
and VIPR Industries current and future development plans. Factors
that could cause actual results to differ materially from
projections include, among others, precious metals prices,
decisions and activities of the operator of the various properties,
unanticipated grade, geological, metallurgical, processing or other
problems the operator may encounter, changes in project parameters
as plans continue to be refined, economic and market conditions, as
well as other factors described elsewhere in this press release or
any other filings submitted by VIPR. In addition, acquired royalty
interests on certain projects are subject to risks associated with
conducting business in a foreign country, including application of
foreign laws to contract and other disputes, foreign environmental
laws and enforcement and uncertain political and economic
environments. Most of these factors are beyond the Company's
ability to predict or control. The Company disclaims any obligation
to update any forward-looking statement made herein. Readers are
cautioned not to put undue reliance on forward-looking
statements.
Contacts: VIPR Industries Inc. Investor Relations (416) 644-8648
Email: info@viprindustries.com Website: www.viprindustries.com