SOURCE: Viva International, Inc.

August 30, 2006 07:30 ET

Viva International Announces Restructuring Initiative

TRAVERSE CITY, MI -- (MARKET WIRE) -- August 30, 2006 -- Viva International, Inc. (the "Company") (OTCBB: VIVI) announced this morning it plans to restructure the Company to facilitate its expansion and financing efforts as an aviation holding company.

Recently the Company announced that Rodolfo "Rudy" Dominguez accepted the appointment as Chief Executive Officer of the Company and veteran aviation executive Calvin Humphrey has joined the Company's Board of Directors.

Additionally, the Company recently announced that it is in negotiations to acquire the assets and the business operations of River Hawk Aviation, Inc. ("River Hawk"), a privately held company owned by Mr. Humphrey. This agreement will enable the Company to further develop a domestic corporate entity specializing in the acquisition of aircraft and the sale of aviation parts. Furthermore, management believes that the activities of River Hawk can be expanded to create opportunities to support and develop the interests of the Company's subsidiaries in the Caribbean. It is anticipated that Calvin Humphrey will have an expanded role in the Company after the completion of the acquisition of River Hawk.

The Company has also entered into a Consulting Agreement with Cambridge Partners, LLC ("Cambridge") that contemplates assisting management with certain applications of Viva International, Inc. and Viva Air Dominicana, S.A. (its 49% owned subsidiary) for separate listings on the Frankfurt Stock Exchange. In addition, the Company has entered into negotiations with individual owners of Company stock that will provide up to twenty million (20,000,000) shares to fund the Consulting Agreement. Under the Consulting Agreement, registered broker dealers will help effect private sales that the Company expects to generate up to $5 million in proceeds if all 20,000,000 shares are sold. The Company anticipates entering into loan agreements for up to 80% of the proceeds.

The Company release emphasized that as a condition of its Consulting Agreement with Cambridge it will study the feasibility of a future distribution of the assets of its Eastern Caribbean Airlines, Inc. subsidiary, which distribution will be effected for the benefit of its then existing shareholders.

Company CEO Rodolfo "Rudy" Dominguez stated, "The pursuit of River Hawk combined with the Cambridge Consulting Agreement brings my vision for this Company into the acceleration mode. From the financing side, the Company still has a number of projects that the investment banker network is reviewing and on which we are seeking funding commitments. Further, the addition of the Cambridge Consulting Agreement gives us a broader base of financing from which we expect to be able to draw. The availability of Cal Humphrey in an expanded capacity as well as the ability of our organization to attract additional quality management and fulfill the expansion of our Board of Directors makes this an exciting time for our shareholders and followers."

Further information can be obtained by reviewing the Company's recent 8-K filings and other documents filed with the U. S. Securities and Exchange Commission.

About Viva International

Viva International has a number of airline and aviation-related interests including two development stage carriers being readied to operate in regional markets from hubs in Puerto Rico and Santo Domingo, Dominican Republic.

The Company plans to create a network of regionally based airlines across the Caribbean, eventually to be linked to key points in the United States, Latin America, South America, and Europe.

At present, the Company maintains executive offices in Michigan.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("the Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements which are based upon certain assumptions and describe future plans, strategies and expectations, are generally identifiable by the use of words as "believe," "expect," "intend," "anticipate," "project," or other similar expressions. These forward-looking statements relate to, among other things, future performance, and perceived opportunities in the market and statements regarding the Company's mission and vision. The Company's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) managing acquisitions and expansion of operations; (2) our ability to manage existing debt; (3) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (4) unforeseen costs and expenses; (5) the Company's ability to comply with federal, state and local government and international regulations; and (6) other factors over which we have little or no control. Further information on potential factors that could affect Viva International, Inc. is found in the Company's Form 10-K and other documents filed with the U. S. Securities and Exchange Commission.

Contact Information

  • Contact:

    Viva International, Inc.
    (231) 932-7490

    Christina Hanneman
    Investor Relations
    303-220-8476 or 866-755-8484