Vivakor Announces Receipt of LOI for $600k Investment

CORALVILLE, Iowa, June 4, 2010 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTCBB:VIVK - News) today announced that the Company has received a letter of intent for an investment up to $600,000 from Excelsior Management. The terms of the transaction are for an investment in restricted common stock at $0.08 per share or shares registered in the current S-1 at the S-1 price of $0.23 per share.



Vivakor Chairman Matt Nicosia added this statement to the news: "This investment interest in Vivakor coincides with management's belief that the Company is currently undervalued and validates management's efforts to create value by reducing debt and increasing the viability of its technologies. We look forward to increasing the Company's value through pushing forward commercialization efforts for both VIVASLICES and VIVASIGHT."



About Vivakor, Inc.



Vivakor(TM) is a biomedical/biotechnology company with transdisciplinary research that develops and acquires products in the fields of molecular medicine, electro-optics, biological handling and natural and formulary compounds that extend or improve life. More information can be found about Vivakor at http://www.vivakor.com/.



FORWARD-LOOKING STATEMENTS



This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor's products and their related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.