VIPR has received additional financing commitments for up to $1 Million, to be followed by an anticipated non binding commitment for an additional $5 Million. They have obtained approximately $500,000 in financing during the previous quarter. While the financing commitments are on a best efforts basis with no guarantees that the total amount can or will be collected, VIPR is optimistic which is as a result of its recent success in raising funding during what is thought to be by many in the industry as a difficult period for junior exploration and mining companies.
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Accumulation of its cash reserves in anticipation of utilizing these reserves jointly for further exploration on existing properties as well as additional key targeted acquisitions and/or joint ventures.
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