Voyager Petroleum Inc. Executes Letter of Intent With Scrap USA, LLC
December 16 2010 - 1:12PM
Voyager Petroleum, Inc. (Pink Sheets:VYGO), an emerging leader in
Eco–Friendly processing and Oil distribution announces Letter of
Intent which contemplates an Exchange of capital stock of Voyager
for all the outstanding capital of Scrap USA, LLC.
The letter of Intent contemplates a definitive agreement on or
before December 31, 2010.
For some time Voyager has been looking for a catalyst to add
significant value to its already existing oil reclamation and
distribution assets according to Sebastien C. DuFort, CEO of
Voyager.
DuFort further comments that, the contemplated share exchange is
an "Excellent opportunity to expand the companies' recycling
services throughout North America and increasing shareholder
value." The share exchange offers a furtherance of the companies'
business aspirations and also calls for the diversification of
integrating Oil recovery along with metals and other auto-related
reclamation and distribution.
There is tremendous opportunity in the integration and further
execution of the business plans of Scrap USA and Voyager according
to Vincent J. Smith, CEO of Scrap USA, LLC.
"Furthermore," explains Smith, "We have been committed for some
time to developing an integrated brand in Industrial
recycling. Although our focus has been on Scrap metal, Voyager
will provide the mechanism to roll-out an integrated recycling
opportunity in North America, targeting the Automotive Service
Center Industry."
About Voyager Petroleum, Inc.
Voyager is a publicly traded mid-market petroleum based
brokerage, processing and distributor in an $11 Billion Dollar U.S.
market.
The company provides private label and wholesale Eco-friendly
petroleum-based products to end users including small to medium
sized fuel blenders, refineries as well as automotive and
manufacturing markets.
Managements' goal is to deliver high quality products at an
affordable price to its customers.
Voyager's strategy has been to build shareholder value through
acquisition and growth. The company seeks target companies that may
save costs and generate greater revenue from increased capital
expenditures, vertical integration and wider distribution
channels.
About Scrap USA, LLC
Scrap USA is based in the city of Reading, PA and has been
operating since 2007 as a Scrap Metal Recycler servicing commercial
and Industrial customers throughout North America.
Scrap has been focused on and successful in targeting the
Automotive Service Center Industry.
The company currently provides specialty recycling programs to
more than 4000 automotive service center locations operated by some
of the most recognizable names in that retail category. Scrap USA's
contracted automotive scrap metal suppliers are listed on the
Nasdaq, New York Stock Exchange and others are owned by some of the
world's largest hedge funds.
The company has procured a solid footing in its current market
of Scrap metal. The company is now comfortable with integrating
other ancillary products such as Oils, and other automotive related
products to its services.
Forward Looking Statements
Statements about the company's expectations including revenue
and earnings and all other statements in this press release, other
than historical facts are "forward-looking" statements and are made
pursuant to the safe harbour provisions of the Private Securities
Litigation Reform Act of 1995. Such forward looking statements
involve risk and uncertainties and are subject to change at any
time. The actual results of the future events described in the
forward-looking statements in this document could differ materially
from those stated in the forward-looking statement due to numerous
factors and other risks identified in the filings made by the
company filing with the Securities and Exchange Commission. In
reflecting subsequent events or circumstances, the company
undertakes no obligation to update forward-looking statements.
CONTACT: Voyager Petroleum, Inc.
Sebastien C. DuFort - CEO
630-532-3625
Scrap USA, LLC
Vincent J. Smith - CEO
877-464-5865