updated 5/18/2011 8:17:23 AM ET 2011-05-18T12:17:23

BOGOTA, Colombia, May 18, 2011 (GLOBE NEWSWIRE) -- VSUS Technologies Inc. (OTCQB:VSUT) today announced that it has entered into an agreement with INCOPLAN S.A. to complete an Environmental Impact Assessment (EIA) for their wholly owned coking coal mining concession in Guaduas, Colombia. This assessment is required by Colombian mining law to obtain a mining permit and should take six months to complete.

The EIA is an extensive study of the environmental impact of the mining operations that will suggest modern, safe techniques to reduce impact. The study covers the life of the mine from set up to closing program.  The following activities will be completed during the course of the study: 

  • Complete review of contracts, submitted and approved geological studies, specific technical literature, and other related documents.
  • A bibliographic review of the bio-physical and socio-economic records on the area.
  • Obtain cartography, climate, and water information.
  • Extensive visits to the mine and surrounding areas.
  • Identification of the boundaries and range of the project.
  • Verification of the hydrologic landscape of the mine.
  • Conduct an inventory of fauna and flora.
  • Monitor water, air and noise.
  • Analysis of the socioeconomic and cultural impact of mining operations.
  • Meetings with local authorities.
  • Integration to the local community. (town meetings, etc)

In addition, INCOPLAN will conduct many other specific activities that are required for a proper and complete study in accordance with the terms of reference issued by the competent environmental authority.

"We chose INCOPLAN because of their involvement in major infrastructure projects in Colombia; we're very confident in the abilities of INCOPLAN's top geologists and engineers to conduct these necessary studies. Their proven track record and reputation in Colombia  is second to none, stated Mr. John Campo, President of VSUS Technologies, "The fact INCOPLAN received shares as part of their payment should be reassuring to our shareholders," further commented Mr. Campo.

"We had already started our preliminary studies because we were anxious to be a part of VSUS Technologies in the Guaduas Project and others to come," stated, Mr. Fabio Villamil, President of INCOPLAN S.A.


INCOPLAN SA is an engineering and consulting firm based in Bogota, Colombia. They offer solutions for development projects, especially in the areas of natural resources.  They are also involved in major infrastructure projects in Colombia, such as the El Dorado International Airport (BOG) renovations, sea and river port construction, railroad renovations, and the "Ruta del Sol" project in Colombia, (Road to the Sun) that connects Bogota to the Caribbean Coast, considered the biggest project in Latin America since the Panama Canal. For more information visit www.incoplansa.com .

Transportation, Logistics and Other Information

VSUS Technologies is consulting to build or acquire a wholly owned river loading facility on the Magdalena River close to our mine. The coal will be trucked to this facility from LA TABAQUERA then barged via the Magdalena River to the Port of Barranquilla for export. The Company plans to build or acquire a river barge transportation company and an export coal terminal in Barranquilla, Colombia. Initially we will use existing facilities while our transportation projects are financed and developed. The Colombian and Chinese Governments are jointly improving railroads that will facilitate local coal producer's ability to export. After the rail projects and the "Road to the Sun" project are completed, VSUS Technologies will have one of the only coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.

About VSUS Technologies Inc.

VSUS Technologies is a growing company specializing in acquisitions of revenue generating businesses. The company has daily interactions with possible acquisition targets looking to expand our operations and the company revenue stream. We have recently signed an Agreement to acquire a mining concession by the name of La Tabaquera in Colombia. Over the past year the Company has continued to search for the right business plan and business model to add to the company's overall value. With core values of environmental and capital stewardship, we will strive to become good environmental neighbors and provide all shareholders operating and financial transparency. Our Company plans to have three revenue producing business units in Colombia: coking and coal mining in Guaduas, Colombia, docks and river transportation along the Magdalena River, and a coal export terminal on the northern coast of Colombia. The Company is also exploring allegiances with U.S. universities to study capturing Coal Bed Methane (CBM) in Colombia. Information on our company website   www.vsustechnologies.com .

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.

CONTACT: Mr. John Campo
         1-410-236-8200 USA
         (57) 318-657-0918 Colombia

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com