Rival Technologies Inc.
RIVAL Orders Engineering of First TRU Process Pilot Plant
Rival Technologies Inc. / 01.12.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- HENDERSON, Nev., Dec. 1, 2009 (GLOBE NEWSWIRE) -- RIVAL Technologies Inc. (OTCBB:RVTI) announced today that it has agreed to terms and issued the initial purchase order for supply of basic engineering on its first TRU process, continuous feed pilot plant. Terms of the order are subject to a confidentiality agreement between the parties and will be announced upon successful completion of the work, expected within eight to ten weeks. This phase will finalize detailed costs, design, procurement and fabrication of the plant including operating requirements of the process. Process and instrumentation diagrams, specification sheets for major equipment, and a preliminary electrical layout are also included. Construction will begin immediately following a review of this information. Total oil resources worldwide are estimated at roughly 9 to 13 trillion barrels of which 30% are conventional. Oil sands, heavy oil and bitumen make up the remaining unconventional 70%. Before moving from the field to the refinery unconventional resources will need to be upgraded and represent the prime market for the TRU process technology. 'Douglas B. 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 Company's 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: Rival Technologies Inc. Investor Relations 877-286-4198 info@rvti.com http://www.rvti.com News Source: NASDAQ OMX 01.12.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Rival Technologies Inc. United States Phone: Fax: E-mail: Internet: ISIN: US7680271043 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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