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CALGARY, March 2, 2015 /CNW/ - Effective as of March 1, 2015, ViBrant Petroleum Ltd (holder of VCI working interest in Terre de Grace Partnership) and Value Creation Inc. have completed an amalgamation pursuant to the Business Corporation Act (Alberta). Together with the amalgamation of BA Energy Inc. and Value Creation Inc. on February 23, 2015, the amalgamated entities will continue as a single corporation under the name Value Creation Inc. ( "VCI" ). This Corporate transformation is designed to provide Value Chain Enhancement Solutions ( "VCS" ) to serve the Oilsands and Refining Industries, to ensure economic robustness towards oil price and light-heavy differential volatilities.
The Mission of VCS is to transform bitumen (from partner and client producers) into Premium Medium Crudes be-fitting majority refineries in North America and globally (i.e. our Clean Oil La-Fit Brand, "COLFTM"), and Premium Light Fuel Products.
With VCI proprietary technologies and synergistic designs/applications, we aim to produce premium products with significantly broadened markets, at lowest all-in costs for equivalent products, while debottlenecking transportation constraints and achieving enhanced environmental performance.
Subsequent to corporate transformation, VCI completed a financial re-structuring on March 2, 2015: in effect, a transaction transferring latent funds to active value creation uses by VCI, including paying off its debt well in advance of maturity. VCI retains all resource / physical / intellectual assets and partnership interests, without equity dilution.
VCI has strong debt-free financial health, vast resources and a differentiating business portfolio, to launch commercialization with very prudent financial and risk management, with high sustainable growth potentials.
Dr. Columba Yeung, Founder/Chairman/CEO of VCI notes:
"With VCI Vision of Regionalization in Resources Development, integrated with Value Chain Solutions to serve bitumen producers, we aspire to contribute effectively to the transformation of the Oil sands industry, to achieve sustainable economic growth in resource development with optimum value-adding, with operating margins ROBUST to oil price and light-heavy differential volatilities."
CAUTION ON FORWARD-LOOKING STATEMENT
This communication is based on information available when the materials were prepared and is provided as a matter of convenience only. VCI makes no warranty or representation, express, implied, statutory or otherwise, as to the accuracy or completeness of the information contained in this communication. VCI disclaims liability for any reliance upon any information or representation contained in this communication, for any omissions from this memo, and for any written or oral communications made by VCI or its representatives in connection with this communication. This communication does not necessarily contain all the information that a recipient may require or desire. Any reliance or use of such information is done at the recipient's sole risk. This communication is not and under no circumstances is to be construed as, an advertisement or offer to sell any securities of VCI. Certain statements contained in this communication may be prospective in nature and constitute forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause VCI's actual results, performance or achievement to differ materially from those expressed in, or implied by, the forward looking statements. Accordingly, no assurance can be and none is given in this communication that any of the forward looking statements will transpire or occur, or if any of them do so, what benefits VCI will derive therefrom. VCI disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
SOURCE Value Creation Inc.
For further information: please contact Samantha Yeung at 403-539-4510 or email [email protected] and visit the Value Creation Inc. website at http://www.vctek.com/