VIPR Industries Narrows Potential Acquisition and/or Joint Venture Prospects
11 November 2008 - 9:00PM
Marketwired
VIPR Industries Inc. ("VIPR") (PINK SHEETS: VIPR) announces that it
is narrowing potential acquisition and/or joint venture prospects
and that it anticipates a closing on one if not more very shortly.
VIPR has been carefully evaluating several potential mining
asset purchases and/or joint venture opportunities that the company
believes will add significant value to its future prospects.
Although the company has recently announced LOI's on properties
located within the Geita region of Tanzania that have strong
discovery potential, the company has subsequently been evaluating
other prospects which have led into serious confidential
discussions with other third parties which VIPR believes are
significant potential property acquisitions at more advanced stages
of development. These discussions have not been disclosed due to
all parties wishing to maintain confidentiality. Although the
company's present prospects have resulted in positive initial
exploration data giving credence to much further exploration
activities, it is VIPR's goal to not just build value through
exploration of its existing properties, but to possibly acquire
assets that are at more advanced stages of development as well as
diversifying into other related value added businesses. Should an
acquisition be completed it will then quickly evaluate which
prospective property or business should have the company's main
focus for further exploration and/or mining activities due to its
resource capabilities.
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