Tampa, Florida--(Newsfile Corp. - February 12, 2021) - Umbra Companies, Inc (OTC Pink: UCIX) and newly announced subsidiaries have mutually agreed to void the previous agreements due to delays in meeting contractual timeline obligations. The resulting dissolution eliminates UCIX interest in Ossifix Technologies, Inc; The Dreaming Company, LLC; Boost Words, Inc and H2O Processing, Inc.
Chief Executive Officer, Alex Umbra commented, "Nineteen months ago we entered into an agreement that was designed to restructure our holdings and preserve our shareholders' interests. Unfortunately, this has proven to be a challenge that either side, to date, has not been able to overcome. Fortunately, the alternative path forward has presented itself and we feel that terminating our existing interests so that the companies can proceed in a nondisplaced manner, is the most auspicious way forward. Ultimately, the team and I believe that this new strategy will prove to be much more efficient and will protect shareholder value."
The transfer of controlling interests in Ossifix Technologies, Inc; The Dreaming Company, LLC; Boost Words, Inc and H2O Processing, Inc will be announced in the coming weeks.
About Umbra Companies, Inc.
The firm is located in Tampa Florida and focuses on advanced technologies across many disciplines. UCI is a holding company with interests in both public and private companies during the early stages of development as well as growth stages of companies with a synergistic business model to UCI subsidiaries.
For more information visit https://umbracompanies.com/
NEITHER THE SECURITIES EXCHANGE COMMISION NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Forward-Looking Information
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of UCI including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. UCI does not assume the obligation to update any forward-looking statement, except as required by applicable law.
Contact:
info@umbracompanies.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74383
