Thursday November 18, 9:50 AM EST
LAS VEGAS, Nov 18, 2004 (BUSINESS WIRE) -- United Development International (Pink Sheets: UDVE) is in negotiations with an existing publicly traded gold mining company for an asset purchase agreement. The identity of this company will be confirmed at the time of a formal agreement in place.
It is the company's view that we are undervalued in the market place at the present time. An independent accounting of the value of the company's assets will occur to ensure that the fairest value will be on the table for the shareholders of United. Present agreement price is between 4 and 6 cents per share.
The company strongly believes that once this acquisition has been signed, within 45-90 days the transaction will be completed. All transactions of this nature are subject to majority shareholder approval.
CAUTIONARY STATEMENT: This news release may include forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act as amended, and/or the U.S. Private Securities Litigation Reform Act of 1995. All statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements that involve various risks and uncertainties. All forward-looking statements in this release are expressly qualified by this notice.
SOURCE: United Development International Inc.
CONTACT: United Development International
Staff, 250-319-3442
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