VIPR Industries Completes Audit, Initiates Drafting of Registration Statement to Prepare for Move to OTCBB Exchangeadmin
Tuesday, August 5th 2008
VIPR Industries Inc. is pleased to report that certified accounting and audit firm Chisholm Bierwolf & Nilson CPA has completed its audit of VIPR’s 2006 and 2007 financial statements. Completing the audit is a critical milestone in VIPR’s preparations to become a fully reporting issuer trading on the OTC Bulletin Board. The Company has also initiated efforts to draft a registration statement for submission to the Securities and Exchange Commission.
Mr. Mike Gerstner, President & CEO of VIPR Industries, commented: “At VIPR Industries we are fully committed to corporate integrity and transparency. We are working to elevate our listing from the Pink Sheets to the OTCBB, holding ourselves to higher standards of financial reporting and shareholder communication. We believe moving to a higher exchange will enhance VIPR’s ability to raise awareness in the investment community, increase our access to capital and provide detailed disclosure for the benefit of current and potential shareholders.”
As announced, VIPR has completed the acquisition of its Singida Gold Property located directly adjacent to and along strike from Shanta Gold Limited’s Singida Project where Shanta has identified an indicated resource of 543,000 ounces of gold valued at an estimated $500 million. VIPR has also closed the acquisition of the Itigi Manyoni Uranium Property where airborne radiometric surveys have identified uranium anomalies indicating strong potential for significant uranium mineralization.
A substantial increase in mineral output led by gold along with a rise in industrial production has created long-term growth in Tanzania. The east African country achieved real GDP growth of 7.3% in 2007, up from growth of 6.7% in 2006 (Oxford Economic Country Briefings, May 21, 2008). Tanzania features a stable government, favorable investment policies and mineral-rich geology.
VIPR Industries Inc. is a precious metals exploration and development company focused on Gold, Uranium, and other high quality precious metal resources and reserves through mergers, acquisitions and resource development.