BOGOTA, Colombia, Aug. 16, 2011 (GLOBE NEWSWIRE) -- VSUS Technologies Inc. (OTCQB:VSUT), a coal company with operations in Colombia, today announced the retirement of 40,000,000 shares equal to 45% of the companies issued and outstanding common shares.
The company holds two separate promissory notes which it is canceling due to a re-pricing of the company's common stock. The cancelation of the notes will cause the note makers to return their shares to the company's treasury.
"We feel that by reducing our issued and outstanding common shares, we will enhance value to our new and existing shareholders while we prove up our assets. We intend to aggressively seek out other coal and mineral acquisitions in Colombia," stated John Campo, President of VSUS Technologies Inc. "Our first-mover advantage, along with our relationships in Colombia, is a huge benefit to our shareholders," further stated Mr. Campo.
Mr. Campo is currently in Colombia checking on the progress of our environmental and geological studies of La Tabaquera Coal Mine, we will begin to give more updates as they develop. The company has finalized its new corporate website, visit us at www.vsustechnologies.com for more information.
Transportation, Logistics and Other Information
VSUS Technologies is consulting to build or acquire wholly owned river loading facilities on the Magdalena River close to our mines. The coal will be trucked to these river ports, and then barged via the Magdalena River to the Ports of Barranquilla, Santa Marta, or Cartagena for export. The Company plans to build or acquire a river barge transportation company and an export coal terminal in Barranquilla, Colombia. Initially we will use existing facilities while our transportation projects are being developed. The Colombian and Chinese Governments are jointly improving railroads that will facilitate local coal producers' ability to export. After the rail projects and the "Road to the Sun" project are completed, VSUS Technologies will have one of the only coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.
About VSUS Technologies Inc.
VSUS Technologies is a growing company specializing in acquisitions of revenue generating businesses. The company has daily interactions with possible acquisition targets looking to expand our operations and the company revenue stream. We have recently signed an Agreement to acquire a mining concession by the name of La Tabaquera in Colombia. Over the past year the Company has continued to search for the right business plan and business model to add to the company's overall value. With core values of environmental and capital stewardship, we will strive to become good environmental neighbors and provide all shareholders operating and financial transparency. Our Company plans to have three revenue producing business units in Colombia: coking and coal mining, docks and river transportation along the Magdalena River, and a coal export terminal on the northern coast of Colombia. The Company is also exploring allegiances with U.S. universities to study capturing Coal Bed Methane (CBM) in Colombia. For more information on our company visit our new website at www.vsustechnologies.com.
Forward Looking Statements
Forward Looking Statements: This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," "intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. VSUS Technologies Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.