CORALVILLE, Iowa, April 12, 2010 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTCBB:VIVK) announced today that its Board of Directors approved a dividend of shares of common stock of Regeneca International, Inc. ("Regeneca"). Vivakor previously received the shares from Regeneca in the fourth quarter of 2009 under a license agreement whereby Vivakor exclusively licensed to Regeneca, for the direct to consumer market, distribution rights to RegeneBlend, one of the new cutting-edge nutraceutical formulations developed by Vivakor. Under the license terms, Regeneca committed to purchase from Vivakor a minimum of $5 million in product over the initial three year license term and Vivakor will be the exclusive supplier to Regeneca. The interest currently held by Vivakor represents approximately 14% of Regeneca's outstanding shares and 100% of this interest will be distributed to Vivakor shareholders in the dividend. It is estimated that each Vivakor shareholder will be entitled to receive one share of Regeneca common stock for approximately every 11 shares of Vivakor common stock beneficially owned on the record date. The record date for the distribution is expected to be April 22, 2009, subject to FINRA and creditor approval, and the distribution date is expected to be April 30, 2010. After the dividend distribution, Vivakor will no longer have an ownership interest in Regeneca; however, it will continue to supply product to Regeneca under the terms of the license agreement.
