VIVI- Viva Seeking to Expand Its Opportunities in The Caribbean
Wednesday, November 17, 2004 16:05 ET
MIAMI, Nov 17, 2004 (BUSINESS WIRE) -- Viva International, Inc. (OTCBB:VIVI) announced today that the Company is pursuing a joint venture operating opportunity with a Caribbean charter operator. Pursuant to its efforts, Viva has negotiated a $50,000 concession from Portsmouth International Marine Service and Insurance Centre (PIMSIC) for the benefit of its potential joint venture partner.
Viva also disclosed that PIMSIC has expressed an interest in providing the insurance coverage for other Viva operations in the Dominican Republic as well as to explore possible aircraft and other financing opportunities between the two companies and their affiliates. Accordingly, a meeting is planned for November 29th in Michigan to explore the dynamics of exploring and expanding a business relationship.
A spokesman for Viva commented, "PIMSIC's concession helps further our discussions pursuant to our joint venture operating opportunity. Further, PIMSIC's additional interest in our airline projects as well as their swiftness in arranging a business meeting constitutes validation and acceptance of our business plan and provides a meaningful basis for a number of mutually rewarding business transactions and relationships."
David Boorman is the CEO of PIMSIC Group and has previously commanded various small aircraft in Africa, Australia, United Kingdom and the Caribbean. Mr. Boorman also previously served as a Director of Tradewinds Airline when it operated scheduled cargo service between Stansted and Chicago.
PIMSIC maintains a Caribbean hub in Antigua that is managed by Bill Cunningham as the Company's Vice President for Latin America and the Caribbean.
David Boorman of PIMSIC was quoted, "It appears that Viva shares a similar strategy as we do and that is to exploit a niche in a market that is currently underserved. Accordingly, we look forward to our discussions with Viva to determine how each of us may benefit by working together."
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("the Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally indentifiable by the use of words as "believe", "expect", "intend", "anticipate", "project" or other similar expressions. These forward-looking statements relate to, among other things, future performance and perceived opportunities in the market and statements regarding the Company's mission and vision. The Company's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. Further information on potential factors that could affect Viva International, Inc is found in the Company's Form 10-K and other documents filed with the U. S. Securities and Exchange Commission.
SOURCE: Viva International, Inc.
CONTACT: Viva International, Inc.
Robert J. Scott, 231-946-4343
Copyright (C) 2004 Business Wire. All rights reserved.
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