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.
SOURCE Universal Capital Management, Inc.