LAS VEGAS, Oct. 25, 2018 (GLOBE NEWSWIRE) — Vivakor, Inc. (VIVK), a technology and asset acquisition company with a focus in the area of natural resources, announced today the closing of a multi-million dollar financing contract with NDH Royalty Source, for the funding of its Royalty III Remediation Processing Center (RPC).
Vivakor’s Royalty III RPC, based on its patent pending technology for remediation and extraction of Hydrocarbons from soil material, is expected to be launched in the first quarter of 2019. Vivakor operates the RPC’s through its VivaVentures Energy Group Inc. division currently in Utah and Kuwait. The need for RPC’s throughout the world applies to any hydrocarbon mixed in soil remediation and certain Oil Sands operations.
Vivakor Chief Executive Officer Matt Nicosia, stated, “We are very pleased with the long-anticipated relationship with NDH, whose team has over 30 years of experience financing oil and gas projects in the United States. This Remediation Processing Center will be located in Utah to process the prolific hydrocarbons in the Oil Sands projects in Asphalt Ridge, or other sites in Utah. We anticipate placing over 30 RPC’s in Utah during our Fundamental Revenue Growth phase increasing the value of the assets in Utah and cleaning up the environment.”
NDH Royalty Source President, Mike Keown, stated, ”No Dry Holes! We have been searching for investments in the oil and gas sector that are revolutionary, proven, and specifically increase the value of U.S. resources. We view the Vivakor Nanotechnology Remediation and Production as the next evolution in royalty investing that reduces the capital risk significantly as there is no “Dry Hole” risk because the Oil Sand material is either on surface or mineable. We look forward to funding further RPC’s in the future as we see that Vivakor not only increases the value of assets and oil production in the USA, but does so in an environmentally responsible and beneficial manner. This is of key importance to us.”
For additional information, please email your contact information, including address and phone number to firstname.lastname@example.org attention Mike Keown and you will receive a reply within 24 hours.
About Vivakor, Inc.
Vivakor, Inc. (VIVK), a technology and asset acquisition company with a focus in the area of natural resources. Vivakor’s corporate mission is to create, acquire and accumulate distinct assets, intellectual properties, and exceptional technologies that produce solid returns to its valued shareholders and partners. The company currently focuses on bitumen (heavy crude) extraction from shallow, oil-laden areas in Eastern Utah, along with petroleum based remediation projects across the globe. The technologies utilized are low-cost, proprietary and proving themselves industry disruptive when measured by a number of important factors. The general business model has been to be an acquisition hub, focused on building and acquiring cash-flowing assets in discrete areas that have an acknowledged technological advantage and enable a substantial market opportunity within significant target markets across the globe. Our research, and the technology we acquire are anchored by our relationships with synergistic partners and product-specific commercialization strategies. From the point of product or technology conception, or through acquisition, development and commercialization, we expect to have strategic partners, joint ventures or licensing arrangements in place for many of our products in order to sustain revenue attainment.
For more information, please visit our website: https://vivakor.com
This news release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor’s filings with the Securities and Exchange Commission, which factors may be incorporated herein by reference. Forward-looking statements may be identified but not limited by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” or “continue” and variations or similar expressions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.