LEXINGTON, Ky., March 1 VirtualHealth Technologies, Inc. (OTC Bulletin Board: VHGI) soon to be renamed VHGI Holdings, Inc. has announced the formation of a new subsidiary, VHGI Energy, LLC. VHGI continues to surge ahead with its strategy of carefully selecting opportunities to gain entry into the established gold and energy markets. This strategy began in 2009 with the lease of treasure Gulch and the option to purchase Treasure Gulch gold mine in Prescott, AZ soon followed by the formation of VHGI Gold, LLC, VHGI's gold and precious metals subsidiary.
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"Our overall strategy from day one and our corporate focus has been to be in a position where we could use our managements relationships to develop business models that produce recurring revenue streams or residual based income," stated the company CEO Scott Haire.
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The establishment of VHGI ENERGY marks the formal entry of the company into the oil and gas industry. It has already begun dialogue with various opportunities in that industry which it plans to disclose in the near future.
Haire continues, "We have successfully executed our strategy so far by the transition of the companies of certain healthcare assets while allowing the company to continue collecting royalties on those previous assets. We also have furthered our commitment to our gold ventures with the extension of Treasure Gulch Lease and are now evaluating our relationship with Western Sierra in such a way as to allow us to develop other mines, collect royalty revenues without having to spend large amounts of cash. "
VHGI Gold is also pleased to announce that since its recent transition from the health care industry to the resource industry it has been diligent in identifying select mineral properties that specifically fit our criteria for growth, expansion and a sound investment.
In the coming weeks the company plans to begin revealing the management team for both subsidiaries. The team will be comprised of seasoned veterans in both industries with the experience and track record to guide each entity towards a successful execution of its well thought out business plan.
According to Jim Renfro, VHGI President, "I feel that having added the oil and gas division to our expanding portfolio of mineral and energy companies it fully complements and formalizes our mission going forward." Renfro continues, "Our goal from day one has been to become profitable and to increase shareholder value and to remain diverse enough that if changes occur in the market we are not hindered in anyway by those conditions in being able to grow the company."
About VHGI and VHGI Gold
VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare
Technology Industry and Precious Metals Markets. VHGI Gold, a wholly owned subsidiary of VHGI has recently initiated steps to leverage the company's operating history and corporate resources within the Gold Mining Industry and intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures. Investors are invited to obtain information concerning our operations at http://www.vhgigold.com or by calling shareholder relations at 561-515-6035.
Safe Harbor Statement:
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
For Further Information: Shareholder Relations - Communications 561-515-6035
SOURCE VirtualHealth Technologies, Inc.
