Trading Symbol: VPI
VANCOUVER, Nov. 4 /CNW/ - Vitality Products Inc. (the "Company") reports that due to current credit market and ethanol market conditions, the Company deems it is prudent and strategic to suspend the feasibility study as reported in the Company's Press Release dated September 16, 2008. The Company remains committed to completing the feasibility study of its proposed plant in Whatcom County, Washington once market conditions improve.
The purposes of the feasibility study was to provide the Company with a definitive conclusion as to the economic viability of the proposed plant and to assist the Company in raising the necessary funds to build the proposed plant, to present to potential investors and lenders who will be able to rely upon this report in making an investment decision. The feasibility study contains very detailed information about the proposed plant, including location, design, operation, timing of completion, budgets, permitting processes, marketing and projections and the like, as well as the risks involved in embarking on such an enterprise. Some of these risks include, but are not limited to, (1) financing; (2) the availability of feedstock, water, electrical power and natural gas; (3) access to rail, all weather roads and personnel; (4) permits; (5) changes to government regulations; (6) adverse sales; and (7) competition.
Forward-Looking Information Statements: This release may contain forward-looking information based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. These statements are not guarantees of future performance and involve a significant number of risks, uncertainties and assumptions.
On behalf of the Board of VITALITY PRODUCTS INC. "William N. Grant" (signed) --------------------------------- William N. Grant, President & CEO The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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