From its headquarters in Detroit, Michigan, Viper Networks, Inc. (Pink Sheets: VPER) said this morning that it has finalized agreement terms and committed to acquiring a 30-percent stake in Connecticut-based energy reseller Aequitas Energy, Inc. Per the contract, Viper will pay $1 million to Aequitas, which is expected to be paid via two equal payments by the end of 2012.

The first $500,000 in cash is anticipated within the next twenty days with the balance expected no later than October 31, 2012. The $1 million funding guarantees Viper Networks a 30% ownership position in Aequitas Energy, with a potentially higher ownership percentage in 2013 and beyond per additional investment opportunities that Viper Networks has first right of refusal.

Upon payment completion, Viper will receive at least one seat on the Aequitas board of directors with certain rights for additional seats that equate ownership percentage with comparable representation on the board. Additionally, the President of Viper Networks is expected to assume an active role in working closely with management at Aequitas Energy in several key areas, including aspects of Information Technology as it relates to the energy power reseller business as well as direct oversight on use of proceeds in the near future.

Viper Networks (VPER) Stock Quote and News:

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