December 14, 2009 (FinancialWire) — Rival Technologies Inc. (OTCBB: RVTI) has signed the financing agreement previously announced November 11th 2009 with no dilution to existing shareholders.

The investment group led by Bridge Gap Konsult based in Calgary, Canada will provide project financing as detailed below over the course of the next 36 months. Funds from the non-recourse agreement will be advanced over three stages for continuous development of the TRU process from pilot to production.

The first stage, $6 million, is assigned to engineer, fabricate and operate, the previously announced one Barrel per day, continuous feed pilot plant. Upon successful completion of Stage One, a further $16 million will be provided to engineer, fabricate and operate a Stage Two demonstration plant. The company is excited about the future prospects for the TRU process and will immediately begin to explore options available to it for securing a farm-in or strategic industry partner for the minimum fifteen Bpd demonstration facility.

Stage Three funding of $115 million will be provided to engineer, fabricate and operate a minimum 10,000 Bpd production facility with a yet to be named industry partner.

While there can be no certainty of reaching the full production stage at this point, the company believes there is a reasonable likelihood that each stage will be successfully concluded in the timeframe envisaged. Projected revenues, based upon an anticipated trailing royalty model, are estimated at $7 million per annum for each 10,000 Bpd increment.

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