SAN DIEGO, Jan. 19, 2011 /PRNewswire/ -- UC Hub Group (Pink Sheets: UCHB) announced today that the company has formed three operating subsidiaries to better position the company's assets and bolster its corporate structure. The operating subsidiaries are as follows:
James Price, Interim CEO of UC Hub Group, Inc., states, "We have partitioned the company to better focus our time and capital on specific phases of development and also better protect our shareholders from additional market shifts or economic turmoil. We believe that these steps will allow us to move forward with plans to install additional members of our executive team and give us the needed flexibility to apply capital to the areas of the company where it is most needed."
About UC Hub Group
UC Hub Group is a publicly traded company founded in 1999. Its goal is to pursue merger and acquisition opportunities that will bring value to shareholders. It is currently involved in the oil, gemstone and precious metal industries. For additional information about UC Hub Group, please visit www.uchub.net.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE UC Hub Group