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Rival Technologies Inc. / Miscellaneous
23.10.2007
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Rival Technologies Inc. - Announces Corporate Update
Las Vegas, Nevada, October 23, 2007 - Rival Technologies Inc. (Symbol RVTI:
PK) is pleased to provide shareholders with an update of recent activities
as we continue to move the business development plan forward.
Introduction of the TRU(TM) technology, within the primary heavy oil upgrading
market, is underway. The target market consists of three groups of oil
exploration companies; large, intermediate and multi-national, all with
existing or planned SAGD projects. Further, we have identified five high
potential development partners within each group. Negotiations are
progressing well with initial results expected during the next two months.
In addition, steps are being taken to increase investor awareness of Rival
Technologies, Inc. We have recently contracted with TVA Productions to
produce and distribute a large multi-media marketing campaign focused on
market potential for the TRU(TM) process and Rival Technologies. It is
expected to begin during the fourth quarter and continue into 2008.
In August we returned to fully reporting and current status within the SEC.
To maintain our status going forward we have engaged Chisholm, Bierwolf &
Nilson, LLC, Certified Public Accountants, as our independent registered
public accounting firm.
Negotiations to move Rival Technologies, Inc. from the ´Pink Sheets´ to a
more senior exchange that better suits its potential are underway, subject
to the successful execution of our business development plan. Further
updates will be provided as they occur.
Worldwide, oil sand and heavy oil resources are massive. The average
reserve of each SAGD (Steam Assisted Gravity Drained) project is 3 billion
barrels of oil. In Canada alone producers have a total reserve of 1.3
trillion barrels of heavy oil that will be developed over the next 40
years. These producers represent the prime market for TRU technology.
Rival Technologies Inc. is an innovative energy related technology company,
investing in emerging technologies. Rival has filed several provisional
patents and patent applications and is now focused on licensing its
technology for industry use. Each technology benefits the environment,
reduces global warming, and has exceptional market segment potential.
On behalf of the Board of Directors
´Douglas Thomas´
President & CEO
Rival Technologies Inc.
Certain statements in this press release constitute ´forward looking
statements´ within the meaning of the United States Securities Legislation.
The Company´s actual results could differ from those in the forward-looking
statements. Do not construe this information as investment advice. This is
not a solicitation to buy or sell securities. This does not purport to be a
complete analysis of the Company. Investing in securities is speculative
and carries a high degree of risk. Past performance does not guarantee
future results. Readers should consult their own independent advisers with
any investment, including any contemplated investment. All information
contained in this press release should be independently investigated. This
press release contains forward-looking statements. These remarks involve
risks and uncertainties. Risks are not limited to quarterly fluctuations in
results or the companies´ management of growth and competition. Other risks
are detailed in the Company´s SEC filings. Actual results may differ
materially from such information set forth herein.
Contact: Investor Relations, Tel: 1-866-601-1340
3155 East Patrick Lane, Suite 1,
Las Vegas NV 89120
email: rvti@internet-ir.com
Website: www.rvti.com
23.10.2007 Financial News transmitted by DGAP
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Autor: EquityStory AG
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