Seeking a Cheaper and More Efficient Method of Distribution
LAS VEGAS, NV / ACCESSWIRE / July 19, 2019 / Vivakor, Inc. (OTC PINK: VIVK), a technology and asset acquisition company with a focus in the area of natural resources, announces that it has signed an agreement to lend capital to Specialty Liquids Transportation, a Toronto Corporation (TSXV: SLT) and also agrees to use their patented Flexitanks in Vivakor's storage and transportation of its processed, heavy crude worldwide.
"The investment by Vivakor into SLT is viewed as highly complementary, as both SLT and VivaVentures Exploration LLC, a Vivakor Company, have been heavily involved in working toward a solution for the world's need for heavy crude, and the need for a cheaper, more efficient method of distribution," stated Vivakor Chief Executive Officer Matt Nicosia. "With proven, and now scaling projects both in the domestic United States and the Middle East, we will have need of a more efficient and cost-effective method to supply our remediated and reclaimed oil to our buyers worldwide. In particular, the heavy crude from Utah has proven to be a great product for bituminous roadway applications, where there is an ever-increasing international market, approximating $100 billion. SLT's Flexitank provides the solution for cost effective transportation and delivery of our product to meet that increasing global demand."
"We are excited with our relationship with both VivaVentures Exploration LLC, a Vivakor company, and Vivakor as investors, as they bring a world of knowledge regarding heavy crude extraction and customer demand. We look forward to assisting Vivakor transport its product worldwide and believe that jointly we will be shipping, over time, several thousand containers per month," stated David Skirloff CEO of Specialty Liquids Transportation.
Vivakor, Inc. (), 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.
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.
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