BOGOTA, Colombia - May 31, 2012 (Investorideas.com Newswire)
VSUS Technologies Inc. (OTCQB:VSUT)
President, John Campo, commented, "As a relatively unknown company, we
understand the need to keep shareholders updated. Due to the large
interest
from international investors in the Colombian coal sector, we wanted to
provide an overview of our company for both retail and institutional
investors taking a closer look at VSUS Technologies Inc."
VSUS Technologies Inc. is focused on the acquisition and
development of high-quality metallurgical coal properties in the
Republic of Colombia . We own 100% of La Tabaquera mine in Colombia with
an estimated 17 MM tonnes of reserves, 70% metallurgical and 30%
thermal coal. These reserves were appraised by a licensed mining
engineer in Colombia for an estimated gross value of US$ 70 MM "in situ"
in the ground.
The Company has signed an LOI to purchase the neighboring property
with expected reserves of over 100 MM tonnes. We anticipate closing this
acquisition in the very near future.
There has been significant interest in the Colombian coal sector by
international mining companies and investment bankers. South Africa 's
Continental Coal acquired a 50% joint venture interest in a
metallurgical coal mine. According to their press release, "Sales of
hard coking coal are made at the mine's gate with current margins of
about 75%."
Brazilian miner Vale said on Monday it agreed to sell its thermal
coal assets in Colombia for $ 407 MM to a unit of Colombian Natural
Resources, a mining company controlled by U.S. investment
bank Goldman Sachs. Goldman Sachs already owns a stake in a
railway
and mines in the same area. Goldman Sachs has been quietly accumulating
coal properties in Colombia for the past few years. It is important to
note that Vale, the largest iron ore producer in the world, is selling
the mines because thermal coal, used to generate electricity, is not
part of the company's core business. They are keeping their more
valuable metallurgical coal assets.
Due to the high quality of our metallurgical coal reserves, the
Company has received an informal offer, through one of its shareholders,
from a subsidiary of a major international energy conglomerate for the
purchase of La Tabaquera; the Company will weigh all options including
being acquired.
We are in talks with a company that owns producing oil wells in
Wyoming that would like to be acquired by VSUS Technologies at a
valuation far greater that our current market price. The oil company
believes mutually we can raise funds to increase their production from
40-50 barrels of oil per day to 400 barrels. This
cash
flow, along with our assets, will make us more attractive to
institutional investors and will allow us to acquire additional coal
properties in Colombia as well as producing oil wells in the U.S.
The Company has increased its authorized shares in preparedness for
these near term acquisitions. We have no plans to enter into any
financing that could have a negative impact on our shareholders. The
increase was done with the long term view of executing our business plan
to take advantage of the huge roll up opportunities both in Colombia
and the U.S.
As you are aware, we have begun our environmental impact studies
for La Tabaquera. We anticipate completing these studies and applying
for our mining permit within three months of receiving the necessary
financing. We have been in extensive talks this week with financiers
that are willing to provide favorable financing.
The Company would like to thank our shareholders for their continued support as we move into the next phase of our development.
Sincerely,
John Campo, President
VSUS Technologies Inc.
VSUS Technologies is a growing company that is acquiring coal
concessions in Colombia in order to satisfy the world market demand for
coal. Once a concession is acquired and the necessary financing is
obtained, the Company will begin all the required environmental and
geological studies to get them into production as efficiently as
possible. The Company plans to have three revenue producing business
units in Colombia : coal mining, coking oven facilities, and docks and
river transportation along the Magdalena River . The Company is also
exploring allegiances with U.S. universities to study capturing Coal Bed
Methane (CBM) in Colombia . For more information on our company visit
our new website at
www.vsustechnologies.com
Forward Looking Statements
Forward Looking Statements; This Press Release includes
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Act of 1934. A
statement containing works such as "anticipate," "seek," intend,"
"believe," "plan," "estimate," "expect," "project," "plan," or similar
phrases may be deemed "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Some or all of
the events or results anticipated by these forward-looking statements
may not occur. Factors that could cause or contribute to such
differences include financing, the future U.S. and global economies, the
impact of competition, and the Company's reliance on existing
regulations. VSUS Technologies, Inc. does not undertake any duty nor
does it intend to update the results of these forward-looking
statements.
Company Contact:
Mr. John CampoPresident(1)-410-236-8200 USA (57) 318-657-0918
Colombiajcampo@vsustechnologies.com
VSUS ColombiaCra. 16 # 79-31 Suite 703aBogota , Colombia
www.vsustechnologies.com
Published at Investorideas.com Newswire
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