READING, Pa., Feb. 7, 2011 (GLOBE NEWSWIRE) -- Voyager Petroleum Inc. (Pink Sheets:VYGO) (Frankfurt:DXD), an emerging leader in eco–friendly processing, oil distribution and specialty recycling programs targeting the automotive service center industry, today announced it has secured $11 million in investment financing in the form of a $1 million convertible debenture and a $10 million stand-by letter of credit from Legendary Investments, LLC, a closely-held private equity firm, specializing in emerging growth companies, based in the Washington, DC metro area. Voyager CEO Vincent J. Smith stated, "With the Legendary Investment financing secured the Company will be able to expand its footprint in its business enterprise model. This is another step in achieving our goals and we're very pleased with our ability to deploy this financing in a such a way as to continue to enhance shareholder value."
About Voyager Petroleum Inc.
Voyager (www.voyagerpetroleum.com) is a publically traded mid market petroleum based brokerage, processing and distributor in an $11 billion dollar US market. Voyager also participates in the $75 billion global scrap metals market through wholly-owned subsidiary, Scrap USA, LLC, which provides specialty scrap metal recycling programs to the Automotive Service Center Industry. The Company provides private label and wholesale eco-friendly petroleum based products to end users including small to medium sized fuel blenders and refineries, as well as automotive and manufacturing markets. Voyager strategy has been to build shareholder value through acquisition and growth. The Company seeks target companies that may save costs and generate greater revenue from increased capital expenditures, vertical integration and wider distribution channels.
About Legendary Investments, LLC
Legendary Investments, LLC based in the Washington, DC Metro-Area is a closely-held private equity firm that provides specialty financing to emerging growth companies and real estate ventures on a select basis. Legendary Investments offers full-service support to it's selected investment portfolio to maximize long-term value while providing operating-growth liquidity to its select investment partners. Legendary Investments was founded on the principle of "investing in positive people with unique opportunities in under-serviced markets."
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To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.