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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
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