ROCKWALL, Texas, Aug. 23, 2009 (GLOBE NEWSWIRE) -- Nature Vision, Inc. (Pink Sheets:NRVN), a Minnesota Corporation, announces the following current events have taken place.
Nature Vision would like to announce a $1.07 Billion First National City Bank (Citibank) cash account has been added to the company's Asset Recovery Portfolio and will be recognized in Nature Vision's financial statements when recovered.
The Peace Through Water Foundation has elected to utilize the services of Nature Vision, Inc. to assist in the collection of this account. Peace Through Water foundation (PTW) assigned all rights including ownership of the above described asset to Nature Vision, Inc. This assignment is irrevocable and may be transferred or assigned by Nature Vision, Inc. to a third party if so desired.
Jeff Thompson of Peace Through Water stated, "The funds held in this account have been on deposit for a period of more than eight years and no claims or allegations have ever been made by the depository bank or government agencies that these funds are from any type of criminal origin."
Michael Alexander, CEO of Nature Vision, stated, "Nature Vision and PTW goals are synergistic, NVI assists in the reacquisition of orphaned assets and PTW will help to utilize them in the Global efforts for 'Change.'"
Upon the successful release of any funds from this account, Nature Vision will recognize the recovered funds in its financial statements and assign 25% of the gross proceeds to be managed by the Peace Through Water foundation for funding humanitarian based projects Worldwide.
About Nature Vision, Inc.
Nature Vision, Inc.'s (NVI) primary revenue source will come from the recovery and/or margin of orphaned and dormant assets of high net worth individuals and companies held in financial institutions around the world.
NVI will use a portion of the funds generated by our asset recovery efforts to finance small and medium sized organizations by providing asset based funding against marketable "income producing and/or marginable" assets provided those companies meet our eco-friendly or humanitarian criteria. NVI funding will enable these organizations to compete more effectively, improve operations and increase their shareholder value.
Forward Looking Statements
This Press Release is for informational purposes only and is not intended as a solicitation of funds, and contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995.