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UC Hub Group and Sky Pacific Execute Merger Agreement and Open Escrow(Marketwire Via Acquire Media NewsEdge) LOS ANGELES, CA, October 3 / MARKET WIRE/ -- UC HUB GROUP, INC. (OTCBB: UCHB), announces that Sky Pacific Innovations, Inc. has executed the Agreement and Plan of Merger whereby the Sky Pacific shareholders will own approximately 90% of UC Hub through the issuance of Preferred Shares. The issued and outstanding common shares of UC Hub is currently 29,112,804. An additional 20,887,196 shares will be issued totaling 50 million common shares issued and outstanding as reported on the company Form 8-K. For sake of clarity, these additional shares (approximately 20 million) will be applied on a pro rata basis for creditors including stock of any subsidiaries that will be spun-off as independent public companies such as Global TV Network (www.globalweb.tv). Sky Pacific's current management will immediately become directors and officers of the company. As previously reported, Sky Pacific has approximately $20 Million of funding for the install of their patented alternative energy systems with the first sale in Guatemala City for $3,250,000. It is anticipated that Sky Pacific will change the name of the company to better reflect its new operations. 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. UC Hub's current focus is municipal software, its Africard of West Africa and OurTown2 products. The company's software infrastructure is a key element to providing customers with the ability to adjust to the constant changes in the marketplace. The applications for debit card transactions and municipal transactions are real-time on-demand applications. OurTown2 is the company's municipal government software that interfaces the customer or citizen with municipal government management software that has been sold and/or licensed to multiple cities throughout the United States. The software helps municipalities manage their city infrastructure and makes the interface with their citizens more responsive and natural. Our OT2.com website details our government services division and the respective services that are offered. Sky Pacific Innovations, Inc. Sky Pacific Innovations, Inc. is a British Virgin Island Company (www.skypacific.net), which has developed its patented alternative energy solution know as "ELPA" (Electricity Per Vehicle) for the international markets. The ELPA creates energy by placing small compressors in the roadway. Energy is created when vehicle traffic runs over the compressor which operates a pump that creates the energy. The projections for return on investment (ROI) model is less than three years and produces passive recurring energy and income for municipalities thereafter. Skypac has entered into a contract to begin the first phase of the roll out of its patented technology in Guatemala City, Guatemala and expects to install 40 more systems in the surrounding areas. Skypac with its team of engineers believes it has one of the most efficient alternative energy solutions and this alternative form will be their legacy. Skypac has seasoned engineers in place that have spent over seven figures in the development of this technology and subsequently the robust R & D department has patents filed in Madrid, Spain. 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:Email Contact (800) 278-8870 UC Hub Group, Inc. Copyright ? 2008 Marketwire |