RVTI Rival Technologies Inc (PK)

Rival Technologies Inc. (OTCBB:RVTIF) announced today an agreement to acquire a heavy oil upgrading technology called TRU Oiltech. Rival has obtained a majority interest, and will fund research and tests aimed at completing a patent and commercially viable process later this year. TRU Oiltech is a mild thermal reagent process, added to heavy crude oil and oil sands bitumen in order to improve their viscosity for transfer in pipeline systems. Rival expects TRU Oiltech to provide substantial per barrel cost savings over existing methods. Oil producers transfer millions of barrels per day of heavy crude to refiners. This very large market potential makes TRU Oiltech an exciting acquisition for Rival. Tars sands have raised interest with numerous major oil processors across North America. According to an Alberta Energy Board's report, annual bitumen production will more than double from the current production levels in the next 10 years. The oil and gas industry has recently reported renewed interest in the expansion of oil sand production and related technologies. "Increased oil consumption along with higher energy prices has created opportunity for new technologies. TRU Oiltech has the potential to add significantly to Rival shareholder value. We have an aggressive research and development schedule planned for this technology in the next three months," stated Robin J. Harvey, President of Rival Technologies Inc.. On behalf of the Board of Directors Robin J. Harvey, President 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. Rival Technologies Inc. (OTC Bulletin Board:RVTIF)