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Umbra AppliedTechnologies Group, Inc. (OTC: UATG) announced today that it hasreached an agreement with a strategic capital partner to support thegrowth of its subsidiary Ossifix Orthopedics.
The private equity firmspecializes in the medical field. The firm’s focus providesstrategic growth capital and works with existing management toincrease sales, benefiting both its own investors and value for allOssifix shareholders.
As part of the agreement, the new partner will become a ninepercent stakeholder in Ossifix Orthopedics and will provide up to $2million in funding capital. The firm will also provide additionalvalue such as its investors and relationships to include an extensiveportfolio of surgeons, medical facilities and knowledgebase, whichwill be utilized to further expand marketing and sales forOssifix.
ChiefFinancial Officer, Thomas Crom stated, “Although this reduces ourownership in Ossifix it dramatically increases Ossifx capability tomove forward without any dilution to UATG’s shareholders. This Ossixtransaction illustrates the creative ways UATG can fund itssubsidiaries without diluting its current UATG shareholders. This typeof funding is complex and time-consuming but illustrates Ossifix’sintrinsic value is now being recognized by others.”.
This announcement onFriday came amid growing optimism among the Company’s executivesthat the traction the UAT Group conglomerate has gained in the firsthalf of the year will exceed its expectations for the year;positioning it for a remarkable year. The investment into Ossifixcontributes to the Company's consolidated growth initiatives whichinclude augmenting existing product offerings and service capabilitiesof its subsidiaries as well as positioning infrastructure resources insupport of planned expansion.
UAT Group Chairman, Alex Umbra commented, “Asalways, UAT Group stands ready to support each of our subsidiaries, inany way necessary, as we capitalize on the values we create together.This new relationship will not only provide strategic capital but willcontinue to support growth objectives that will bolster shareholdervalue, streamline balance sheet debt and enable verticals to berealized sooner”.
About Umbra Applied Technologies Group, Inc.
The firm is located inTampa, Florida and focuses on advanced technologies across manydisciplines. UAT Group is a holding company with interests in bothpublic and private companies during the early stages of development aswell as growth stages of companies with a synergistic business modelto UAT Group subsidiaries.
For more information, visit: www.uatgroup.com
Investor and MediaContact: info@uatgroup.com
For more informationabout Ossifix Technologies, go here: https://ossifixtech.com/
NEITHER THE SECURITIESEXCHANGE COMMISSION NOR ITS REGULATION SERVICES PROVIDER ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWSRELEASE.
Forward-Looking Information
This news release may include "forward-lookingstatements" including forecasts, estimates, expectations, andobjectives for future operations including but not limited to itsability to conclude a business combination with a third party, sale ofassets, return of capital or initial public offering and a secondarylisting on the OTC as a result of aforementioned and its ability tofund the exploration of its assets through the raising of equity ordebt capital or through funding by a joint venture partner that aresubject to a number of assumptions, risks, and uncertainties, many ofwhich are beyond the control of Umbra Applied Technologies Groupincluding but not limited to capital markets and securities risks andcontinued development success on technology. There can be and are noactual or implied guarantees that any of the above activities will becompleted or completed on terms acceptable to the Company and itsshareholders or approved by any regulatory authority havingjurisdiction. Such forward-looking information representsmanagement's best judgment based on information currentlyavailable. No forward-looking statement can be guaranteed, and actualfuture results may vary materially. Umbra Applied Technologies Groupdoes not assume the obligation to update any forward-lookingstatement, except as required by applicable law.
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Umbra Applied Technologies Group, Inc.
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