VIPR Industries Provides Corporate Update
May 28 2009 - 1:00PM
Marketwired
VIPR Industries Inc. (PINK SHEETS: VIPR) ("VIPR") announces update
on funding and projects.
Within the past quarter, VIPR Industries (the "Company") has
received funding in various tranches and sizes from accredited
investors with the expectations of further funds being received.
The company is currently evaluating all options as it anticipates
using most of its cash reserves towards further exploration on
existing assets and possible acquisitions. In its most recent press
release, the company indicated that it was attempting to identify
further target zones for further exploration on its Singida-Londoni
property in Tanzania. This information is currently being reviewed
by the company and Geologists which also includes a budget brought
forth towards the drafting of a possible NI 43-101 report on its
Singida-Londoni property.
In addition, VIPR's Chief Operating Officer and Chief Geologist
has recently brought to the attention of the company other
potential acquisitions that may be in more advanced stages or
possess significant potential. These prospective projects are
located in other parts of the world, most notably within certain
parts of South America where various countries are expected to have
an estimated $40 Billion in exploration to be spent within the next
several years. The Company expects a decision on its various
options to be concluded in the very near term. In other
developments, a recent proposal was made by VIPR to further its
current position at the Mwamunguli Diamond Prospect. The offer was
not accepted by the current license holder.
Safe Harbor
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
(The "Act"). In particular, when used in the preceding discussion,
the words "pleased," "plan," "confident that," "believe," "expect,"
or "intend to," and similar conditional expressions are intended to
identify forward looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Such
statements are subject to certain risks and uncertainties and
actual results could differ materially from those expressed in any
of the forward-looking statements. Such risks and uncertainties
include, but are not limited to, general economic conditions,
inherent mining risks, market conditions, competitive factors, the
ability to successfully complete additional financings and other
risks described in the Company's filings and website, which all
investors are advised to view at
viprindustries.com/motion.asp?menuid=6266&lgid=1&siteid=100382.
For more information please visit www.viprindustries.com.
Contacts: VIPR Industries Inc. Investor Relations (702) 940-0494
info@viprindustries.com www.viprindustries.com