WILMINGTON, Del., Nov. 13, 2012 /PRNewswire/ -- Universal Capital Management, Inc. (OTC: UCMT) announced today that it had appointed Jeffrey Muchow, a lifelong veteran of the agriculture industry as a special consultant to Universal Capital to advise it as it relates to the NB Regeneration fertilizer project. NB Regeneration is in the process of developing a nitrogen fertilizer facility to be located in the Republic of Panama. Universal Capital had previously announced that it had entered into a Memorandum of Understanding to purchase up to 43% of NB Regeneration, Inc., the developer of a proposed 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. The Company continues to work on final documents relative to the Memorandum of Understanding, and expects to have those completed shortly.
Mr. Muchow has spent his entire professional career in the food and agricultural processing industries, where he has served as a senior officer in numerous business startups and turnaround situations. Mr. Muchow has led numerous acquisitions due diligence teams for mergers in food and agricultural industries both domestically and in Brazil, China, Russia and Bulgaria. He received his Masters Degree in Agricultural Economics from the University of Missouri and an MBA from the University of Northern Colorado. "Mr. Muchow's diverse and extensive background in the agricultural industry make him the perfect candidate to advise and oversee Universal Capital's interest in the fertilizer project," stated Michael Queen, CEO of Universal Capital Management.
"I am very excited to be involved in this significant capital project," stated Mr. Muchow. "I believe it is the right product, in the right place, at the right time, and I believe it could prove to be financially rewarding to Universal Capital and its shareholders."
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. Universal Capital provides management services and assists and enables entrepreneurs to introduce products or services 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 Universal Capital'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 Universal Capital 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 Universal Capital does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact: William Bosso
SOURCE Universal Capital Management, Inc.