CORALVILLE, Iowa, March 31, 2010 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTCBB:VIVK) today announced that it has shipped the first order of RegeneBlend™ to Regeneca International, Inc. (www.regeneca.com). The shipment on the 25,000 bottle order (retail value $1.5 million) represents the first installment under the $5 million license agreement that Vivakor and Regeneca entered into in November 2009. Under the terms of the license, Vivakor exclusively licensed to Regeneca, for the direct to consumer market, distribution rights to the new cutting-edge nutraceutical formulation developed by Vivakor. Regeneca has committed to purchase from Vivakor a minimum of $5 million in product over the initial three year license term and Vivakor received a 15% ownership interest in Regeneca's outstanding common stock and will be the exclusive supplier of the licensed product to Regeneca.
Vivakor CEO Dr. Tannin Fuja continues to express enthusiasm for the transaction, "This initial shipment is another step in Vivakor's development of a broad array of formulary products. We are extremely pleased to have partnered with our friends at Regeneca to market this amazing product."
Dr. Fuja continued, "We are particularly pleased to include in the formulation the powerful, marquis super-antioxidant yum berry (yang-mei in Chinese), also known as red bayberry, which is harvested from one hundred-year-old trees, and the flavonoid-rich concord grape, which has been shown to contain potent antioxidants that may protect against oxidative stress and reduce the risk of free radical damage and chronic diseases."
Regeneca's President, Larry Walter, echoed Dr. Fuja's sentiments, "For us at Regeneca, this represents a terrific step forward. We have taken so many pre-orders for this product; we have already begun the process of planning our next order."
About Vivakor, Inc.
Vivakor™ is a biomedical/biotechnology company with transdisciplinary research that develops and acquires products in the fields of molecular medicine, electro-optics, biological handling and natural and formulary compounds including nutraceutical products, that extend or improve life. More information can be found about Vivakor at www.vivakor.com.
More information can be found about Regeneca International, Inc. at www.regeneca.com.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor's nutraceutical products and their related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.