HINSDALE, Ill., Sept. 4, 2008 (GLOBE NEWSWIRE) -- Voyager Petroleum Inc. (OTCBB:VYGO) (Frankfurt:DXD) is pleased to announce that it has retained Worth Capital, LLC as its financial advisor to evaluate strategic alternatives to maximize shareholder value. The investment banking services are to include buy-side and sell-side representation in mergers, acquisitions, and divestitures.
Monarch Petroleum, Voyager's wholly-owned subsidiary, operates the 20,000 sq. ft. Detroit facility using its own process for reclaimed used oils to produce petroleum and other lubricants in an economically, environmentally, and what management believes to be a socially responsible manner. The United States generates approximately 1.4 billion gallons of recoverable used oil every year according to America's Choice, the website of Safety-Kleen, a major United States re-refinery. Voyager expects to capitalize on the demand for recycled lubricants through its own process and available capacity by market penetration, customer retention and cost reductions for its potential customers.
About Worth Capital, LLC
Worth Capital, LLC is a financial services firm, which serves as a resource to the shareholders and management of middle market companies with annual revenues of $10.0mm to $250.0mm. Worth Capital provides essential resources for business owners and management to navigate the treacherous financial waters of steady, growing and declining economies. With offices in Michigan, Illinois, New York, Georgia, Oklahoma, and Tennessee, Worth Capital has served numerous lower to middle-market companies. Worth Capital, LLC - Capital Markets Group is comprised of a highly experienced team of real estate and corporate professionals that has secured more than $1.5 billion in commercial real estate and corporate finance transactions.
About Voyager Petroleum
In its quest to manufacture and distribute eco-friendly petroleum-based products and services to the automotive and manufacturing aftermarket, the Company intends to promote its environmentally conscious processing methods for reclaimed used oil. The Company will seek to acquire reputable middle-market petroleum-based lubricant companies that process, blend, package, and distribute lubricants and related products as well as acquire facilities to conduct like operations.
Forward-Looking Statements
This press release contains forward-looking statements, which represent the Company's expectations or beliefs, including, but not limited to, statements concerning plans, growth and strategies, which include, without limitation, statements preceded or followed by or that include the words may, will, expect, anticipate, intend, could, estimate, or continue or the negative or other variations thereof or comparable terminology. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond the Company's control, and actual results.