WILMINGTON, Del., Aug. 22, 2012 /PRNewswire/ -- Universal
Capital Management, Inc. (OTCQB: UCMT), announced today that it had
signed a Memorandum of Understanding (MOU) to purchase up to 43% of
NB Regeneration, Inc., subject to the terms of a definitive
purchase agreement. NB Regeneration is in the process of
developing a nitrogen fertilizer facility to be located in the
Republic of Panama that will be
capable of producing up to 4,000 MT of granulated urea daily.
Urea is the world's most produced chemical with more than 160
million MT being produced annually in approximately a $75 billion annual industry. Currently,
more than 40% of all food grown globally is fertilized using urea,
and demand industry studies forecast increased demand for the
foreseeable future.
"We are excited to be involved in this world-class project,"
stated Michael Queen, CEO of
Universal Capital Management. "Industry forecasts project
continued 5-6% annual growth in demand for urea, and with excellent
margins, this is an industry that presents tremendous opportunity
for our company."
About Universal Capital Management, Inc. Universal
Capital Management has been actively involved in direct response
management and marketing services that it provides to its clients
or its specifically owned businesses. The Company provides
management services and assists and enables entrepreneurs to
introduce products to the consumer, wholesale, retail, or global
markets.
Forward-Looking Statements: Certain matters discussed in
this press release are "forward-looking statements." These
forward-looking statements can generally be identified as such
because the context of the statement will include words, such as
"expects," "should," "believes," "anticipates," or words of similar
import. Similarly, statements that describe UCM's future plans,
objectives or goals are also forward-looking statements. Such
forward-looking statements are subject to certain risks and
uncertainties, including the financial performance of as
appropriate, which would cause actual results to differ materially
from those currently anticipated. Although UCM believes the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, they cannot give any assurance that
their expectations will be attained. Shareholders, potential
investors and other readers are urged to consider these factors
carefully in evaluating any forward-looking statements. Certain
factors could cause results and conditions to differ materially
from those projected in these forward-looking statements. These
forward-looking statements are only made as of the date of this
press release and UCM does not undertake any obligation to publicly
update such forward-looking statements to reflect subsequent events
or circumstances.
Contact:
Michael Queen
302-998-8824
SOURCE Universal Capital Management, Inc.