BOGOTA, Colombia, Nov. 10, 2011 (GLOBE NEWSWIRE) -- VSUS Technologies, Inc. (OTCQB:VSUT), a United States based coal company with business operations in Colombia, and the United States, confirms receipt of 40,000,000 shares back into the Company's Treasury. The company will now have 47,253,268 common shares outstanding and will continue using their stock to make more acquisitions in Colombia that will add value to their shareholders. The company also confirms payment of the 2011-2012 surface rights tax for their concession contract in Guaduas, Colombia.
According to a recent engineering report, the company's wholly owned subsidiary, La Tabaquera coal mine has close to 17,000,000 metric tons of probable coal reserves, 70% is estimated to be high quality metallurgic coal. The company will be making more frequent updates on the development of La Tabaquera and the implementation of their logistics plan to take advantage of the U.S.-Colombia free trade agreement.
"The U.S. free trade agreement with Colombia will not only benefit our coal imports to the U.S., but also our proposed shipping line via the Magdalena River. Our plan is to ship cargo containers with Made in USA products on coal barges returning to our mines along the Magdalena River," stated John Campo, President of VSUS Technologies Inc. "Colombia's major consumption centers for U.S. products are along the Magdalena River," further commented Mr. Campo.
The U.S. International Trade Commission estimates that the elimination of tariffs and related barriers in Colombia will increase U.S. Gross Domestic Product by nearly $2.5 billion and U.S. merchandise exports by $1.1 billion. The agreement will support thousands of American jobs.
Transportation, Logistics and Other Information
VSUS Technologies is consulting to build or acquire river loading facilities on the Magdalena River close to their mines. Major infrastructure improvements announced by the Colombian government will facilitate trucking coal to river ports and then barging via the Magdalena River to the Ports of Barranquilla, Santa Marta, or Cartagena for export. Once financed, 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 few 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 has signed a definitive agreement to acquire La Tabaquera coal mine in Guaduas, Colombia. 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/">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.