Viper Networks Inc. (PINK: VPER), a provider of VoIP products and services designed to meet customers’ global voice communication needs, today, announced that it finalized the terms of an agreement with Aequitas Energy Inc., an energy reseller. Under the terms of the agreement, VPER is committed to acquiring a 30% stake in Aequitas Energy.
The agreement requires VPER to invest $1 million in Aequitas. VPER plans to make the payment in two parts. The company expects to pay the first part, which is $500,000, within the next twenty days. The remaining $500,000 is expected to be paid by no later than October 31, 2012.
On making the full payment, Viper Networks will receive at least one seat on the Aequitas Board.
Following the announcement, Viper Networks shares have risen sharply in trading today. At last check, the stock was trading 5.13% higher at $0.0041 on above average volume of 123.61 million. The stock has gained more than 53% in the last three trading sessions.
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