June 18, 2008
Rival Technologies Inc.: Rival Common Now Trades on OTC Bulletin Board
Rival Technologies Inc. (OTCBB: RVTI) said today that its common stock has returned to trading on the electronic OTC Bulletin Board effective immediately. The company is current and fully reporting under the Securities Exchange Act of 1934 and continues to file all reports as required under the Act, including Forms 10-K and 10-Q.
TRU Oiltech management is in the process of moving to Phase Two of the business development plan. Preliminary cost estimates, for a one barrel per day TRU(TM) process pilot plant, are nearing completion and negotiations with a number of potential partners for this next phase are underway. Updates will be provided as they occur.Worldwide, oil sand and heavy oil resources are massive. In Canada alone producers have a total reserve of 1.3 trillion barrels of heavy oil that will need to be developed over the next 40 years. Before moving from the field to the refinery the resource will need to be upgraded. These producers represent the prime market for TRU(TM) process technology.
Rival Technologies Inc. is an innovative energy related technology company, investing in emerging technologies with extraordinary market potential. Rival has filed several provisional patents and patent applications and is now focused on licensing its technology for industry use.
Douglas Thomas, President & CEO
Rival Technologies Inc.
Certain statements in this press release constitute "forward looking statements" within the meaning of the United States Securities Legislation. The Company's actual results could differ from those in the forward-looking statements. Do not construe this information as investment advice. This is not a solicitation to buy or sell securities. This does not purport to be a complete analysis of the Company. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. Readers should consult their own independent advisers with any investment, including any contemplated investment. All information contained in this press release should be independently investigated. This press release contains forward-looking statements. These remarks involve risks and uncertainties. Risks are not limited to quarterly fluctuations in results or the companies' management of growth and competition. Other risks are detailed in the Company's SEC filings. Actual results may differ materially from such information set forth herein.
Contacts: Rival Technologies Inc. Investor Relations 1-866-601-1340 Email: [email protected] Website: www.rvti.com
SOURCE: Rival Technologies Inc.