Rival Technologies Inc.
Rival Technologies Inc. — New U.S. Project
Rival Technologies Inc. / 29.09.2009 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., Sept. 29, 2009 (GLOBE NEWSWIRE) -- Rival Technologies Inc.(OTCBB:RVTI) is now in discussions with a large, privately held, United Statesbased heavy oil producer/refiner/pipeline company, regarding the use of the TRUprocess technology. Technical due diligence has commenced and will be completed in the next month.'This would be an ideal partner for us, as they are involved in all aspects ofheavy oil applicable to the TRU process technology,' stated Doug Thomas,President of Rival Technologies Inc. The next step would include construction of a continuous feed pilot plant usingthe TRU process technology and this oil producer's feed stock. Results fromthis phase would move the project forward to commercial production. Rival has three additional oil producers in discussions for a similararrangement, as well as also taking steps to fund and build its own pilotplant. Total oil resources worldwide are estimated at roughly 9 to 13 trillionbarrels, of which 30% are conventional. Oil sands, heavy oil and bitumen makeup the remaining unconventional 70%. Before moving from the field to therefinery, unconventional resources will need to be upgraded and represent theprime market for the TRU process technology. 'Douglas B. Thomas' President & CEO Rival Technologies Inc.Certain statements in this press release constitute 'forward lookingstatements' within the meaning of the United States Securities Legislation. TheCompany's actual results could differ from those in the forward-lookingstatements. Do not construe this information as investment advice. This is nota solicitation to buy or sell securities. This does not purport to be acomplete analysis of the Company. Investing in securities is speculative andcarries a high degree of risk. Past performance does not guarantee futureresults. Readers should consult their own independent advisers with anyinvestment, including any contemplated investment. All information contained inthis press release should be independently investigated. This press releasecontains forward-looking statements. These remarks involve risks anduncertainties. Risks are not limited to quarterly fluctuations in results orthe Company's management of growth and competition. Other risks are detailed inthe Company's SEC filings. Actual results may differ materially from suchinformation set forth herein. CONTACT: Rival Technologies Inc. Investor Relations 877-286-4198 info@rvti.com http://www.rvti.com News Source: NASDAQ OMX 29.09.2009 Financial News transmitted by DGAP --------------------------------------------------------------------------- Language: English Company: Rival Technologies Inc. US Phone: Fax: E-mail: Internet: ISIN: US7680271043 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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