VIPR Industries Signs Termsheet for Acquisition of Revenue Producing Zereko Inc. and Its IVAC Industrial Unit. Client List Inclu
October 31 2008 - 4:10PM
Marketwired
VIPR Industries Inc. ("VIPR")(PINK SHEETS: VIPR) announces that it
has executed a term-sheet for the acquisition of revenue producing
Vancouver B.C. based Zereko Inc. and its highly touted proprietary
IVAC Industrial unit. Some of Zereko's current clients include
notable companies such as General Motors, Inco, and Falconbridge
among several others.
VIPR Industries has been in the process of reviewing several
potential companies as possible acquisition targets or joint
venture partners to compliment its existing mining assets within
the stable confines of Tanzania. The company decided that revenue
producing Zereko Inc., a Vancouver B.C. based company and its
proprietary IVAC Industrial Vacuum System called the PV500, would
be an excellent fit as a potential partner and acquisition. Zereko
is an established company in business for nearly 25 years. Zereko
and its affiliated company's has sold several IVAC units to date
too many notable companies such as General Motors, Inco,
Falconbridge and several others. Their IVAC PV500 Industrial unit
has been receiving increased global interest from many
multi-national company's due to its many diverse applications.
The units can be utilized in applications such as mining,
drilling, water treatment plants, slurries, oil spills, wood mills,
pulp mills, marine applications such as barges and ships, and
several other uses as its applications are continually evolving. On
average, an IVAC unit retails between $50,000 and $75,000 per unit
which has been receiving positive reviews and feedback from
purchasers and contractors alike. Zereko is in the process of
filing patents and trademarks.
Along with Zereko's Industrial IVAC System the company has
assembled a successful construction contracting division which is
also being discussed as part of the acquisition by VIPR Industries.
The construction division holds much promise as it has already
managed and successfully completed projects, large and small. VIPR
intends on acquiring Zereko as a wholly owned subsidiary company.
The term-sheet calls for an anticipated closing within 60 days
should all terms be negotiated and agreed to by both sides. Certain
conditions might call for VIPR to raise funds for the marketing of
the IVAC as Zereko anticipates sales could multiply exponentially
with an adequate marketing budget.
Mike Gerstner, President of VIPR Industries commented, "While in
the exploration phases of our mining and resource properties, the
Zereko acquisition would result in instant revenues for the
company. We believe that both company's would greatly benefit from
the proposed merger should both parties successfully agree on
acceptable terms on a final closing agreement".
More Information on Zereko can be obtained by visiting its
websites at:
http://www.industrialvacuumunit.com/,
http://www.zereko.com
About VIPR Industries Inc.
VIPR Industries Inc. is a precious metals exploration and
development company focused on Gold, Uranium, and other 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. Forward looking statements 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.
For more information please visit
(http://www.viprindustries.com/).
Contacts: VIPR Industries Inc. Investor Relations (416) 644-8648
Email: info@viprindustries.com Website: www.viprindustries.com