DETROIT, May 8, 2012 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER), is pleased to announce that the Company has taken a significant step to enter the U.S. energy sector by signing a Letter of Intent (LOI) with Aequitas Energy, Inc., a profitable energy reseller based in Connecticut that will soon be operating in multiple deregulated northeastern states.
Viper Networks' Chief Executive Officer met with Aequitas Energy's top executives at their New Haven, Connecticut headquarters last week and finalized terms yesterday (5/7/12) by signing an LOI agreement to invest $1,000,000.00 during 2012 to acquire 30% of the profitable energy company.
The vast majority of the Connecticut-based reseller's current broker energy source business is with one of the largest electric power generation companies nationwide. Additionally, Aequitas Energy is expected to begin operations as a reseller of natural gas in the near future.
The synergies, assets and key relationships that each company can offer; promises to create a rapidly expanding energy company that delivers energy power reliability, price stability and customer service excellence; along with the finest electric power efficiency standards nationally, new clean natural gas offerings and future renewable power choices, to include solar and/or wind power.
Acquisition plans are focused on major expansion into additional unregulated energy states throughout the U.S. and significant revenue growth through modest capital infusions that the Company has committed to raise.
Viper Networks, Inc.'s President and CEO, Mr. Farid Shouekani, commented: "As one of our top priorities this year, we have been working diligently to solidify a mutually beneficial relationship with this company. Since our commitment to enter the energy sector dovetails perfectly with our various energy-efficient, environmentally-friendly product sales and LED lighting agreements and projects, I am very happy to report that our recent fruitful meetings have produced a clear path to acquiring a notable percentage of Aequitas Energy. This event marks a significant step toward Viper Networks key diversification objectives, and the potential success for all shareholders going forward."
Please note the Company is displaying a 'temporary' corporate site at www.vipernetworks.com.
The Viper Networks, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12434
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development of new business opportunities, zero operational impact and projected costs, future operations, revenue, profits, gross margins and results of operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.