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UC Hub Group Inc. Signs Binding MOU to Be Acquired by Sky Pacific Innovations, a Patented Alternative Energy Company With $20 Million in Funding LOS ANGELES, CA--(MARKET WIRE)--Aug 27, 2008 -- UC HUB, INC. (OTC BB:UCHB.OB - News), a publicly
traded company currently on the Over the Counter, announces
that the
Company has signed a binding Memorandum of Understanding
whereby Sky
Pacific Innovations Inc. will acquire 90% of UC Hub. Sky
Pacific
Innovations represents they have patented mechanisms that
generate energy
to the power grid or nearby storage units via vehicular
traffic flows.
This extremely efficient form of alternative energy allows
for always
increasing and predictable energy flows. Sky Pacific provides
one of the
most efficient alternative forms of energy and one of the
best ROI models
in the industry. Sky Pacific has spent over $1.8 Million
developing this
patented technology and has up to $20 Million standing by
for the
exploitation of this very exciting alternative energy solution.
When other
companies pursue some less efficient forms of energy from
geothermal,
biomass, hydro and other new forms of energy, Sky Pacific
Innovations had
the vision to patent and potentially harness energy of the
1.5 billion
vehicles. Each vehicle that passes over this patented device
will produce
energy. According to Sky Pacific Innovations, 22 vehicles
a minute produce
$145,000 a month in revenue as a safe, low cost, pollutant
free alternative
energy solution. With funding in place Sky Pacific is in
the process of
closing their first government contract and expects to implement
initial
phases of the first system the last quarter of 2008. Management of UC Hub Group Inc. has been working diligently to find a solution for the shareholders and the creditors and believe that a patented Alternative Energy company that leverages existing vehicular traffic is an excellent choice. The issue for UC Hub Group Inc. has been the lack of funding and the debt which are serious encumbrances. Management has continued to fund the companies in good faith while diligently searching for a transition or company that may work for all concerned. Under the present circumstances, Alternative Energy, funding, patents, and agreements in place, Sky Pacific seems to be a very creative solution. The legally binding MOU stipulates that the debt must be handled by stock in the parent company (UC Hub Group Inc.) and its three or four subs which will be potentially spun out to their own public entities. Management in some cases is donating its own assets to this effort so the shareholders and the creditors can take advantage of this patented global opportunity. The subs that potentially will be spun out will also offer a discount on stock to the UC Hub shareholders as management navigates all of the parameters of such transactions. Sky Pacific Innovations will bring in their credible management team of PhDs and engineers and plan to appoint a new Board per regulatory policy and procedures. About UC Hub Group Inc.: UC Hub Group Inc. operates as a software development, marketing and digital distribution company for transaction based operations on the web and mobile phone. Safe Harbor Provision This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of UC HUB Group Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition. Contact: Contact:
Email Contact
800 278 8870
UC Hub Group Inc. (UCHB.OB)
Source: UC Hub Group Inc.
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