SILVERADO, CA -- (Marketwired) -- 04/24/13 -- Resource Ventures, Inc. (PINKSHEETS: REVI), its wholly owned subsidiary, Global Energy Management Ltd., ("GEM") and Next Space Solutions LLC ("NSS") of California have signed a Term Sheet defining the Principles of Cooperation for the development of Renewable Energy projects in California, Puerto Rico, India and South Africa. REVI announced on March 27, 2013 that GEM had signed a Letter of Intent anticipating a series of Joint Ventures with Next Space Solutions LLC of California, pending the completion of due diligence.
With the successful completion of the due diligence and with the signing of the Term Sheet, REVI, GEM and NSS have taken the first step in the development of a series of photovoltaic and other renewable energy joint ventures. The term sheet initially targets the acquisition and development of photovoltaic projects in California and provides outlines for the sharing of costs relating to project development and personnel.
The Term Sheet also defines an option for the participation of a third party in joint ventures that are within the scope of the Term Sheet.
Bob Thompson, REVI's CEO, stated, "Electrical Power production by means of photovoltaic and other renewable energy facilities has been increasing steadily in California. REVI and Next Space Solutions have a shared understanding of the opportunities that exist for the production of clean energy and we intend to jointly pursue several of these opportunities. Resource Ventures is very pleased to share this vision with Next Space Solutions."
About Resource Ventures, Inc. (PINKSHEETS: REVI)
Resource Ventures Inc. ("REVI") is an emerging independent global Electrical Power Production and Petroleum Exploration Company that is focused on the acquisition and development of a diversified portfolio of complementary power generation and energy production projects.
REVI's strategic vision anticipates the utilization of both modern and traditional power generation technologies in combination with diverse energy sources, including oil and natural gas as well as renewable energy sources such as biomass, bio-diesel, wind power and photovoltaic systems.
For additional information:
Telephone: 888.497.REVI (888.487.7384)
Web Site: http://www.resven.com
Investor Information visit http://www.otcmarkets.com/stock/revi/quote
Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
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