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Vivakor Announces Receipt of $3 Million Investment LOI and MOU to Merge With Resolution Biomedical Inc.

GlobeNewswire "Press Releases"

IRVINE, Calif., Jan. 27, 2011 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTCBB:VIVK) announced today that it has received an Letter of Intent for $3 Million in investment capital from a private investment group. The financing is to be used for strategic acquisitions and working capital for the combined businesses. The final terms of the investment are to be negotiated based on the terms of the acquisition.


Additionally, Vivakor announced that it has entered a Memorandum of Understanding to merge with Resolution Biomedical, a biotechnology company based in Tustin, California, in an exchange of shares.Resolution Biomedical develops and sells diagnostic products with applications in cancer detection.Vivakor's Chairman Matt Nicosia stated the following, "Resolution Biomedical Inc. has a parallel mission to increase the quality and length of life through detection and prevention of cancer and other infectious diseases.They have a proven product that continues to grow in sales and we look forward to completing this acquisition."