Universal Bioenergy Announces Plans to Expand Its Board of Directors to
Up-List to NASDAQ
IRVINE, Calif., Dec. 12, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc.
(OTCMarkets:UBRG), a publicly traded independent diversified energy company,
that markets natural gas, propane, and produces coal, announced today that it
is planning to expand its Board of Directors in its efforts to meet the
qualifications to up-list to NASDAQ or another major stock exchange.
Universal Bioenergy stated that it plans to expand its Board to up to 5 to 7
members. The Company is reviewing documentation on several strong potential
candidates from its securities law firm that it engaged to assist them with
the up-list to NASDAQ. The Company is also working with several executive
search firms to assist it in its efforts to identify candidates.
The Company is taking this action to expand the board to gain additional
strength from the knowledge,experience and business networks of those
persons, to help the Company grow, andidentify energy industry trends and
emerging markets for the Company to capitalize on. The Company intends to add
members to its Board with strong backgrounds and experience in the energy
industry, corporate finance, and investment banking. The new board members
with also help develop the Company's long-term strategic plan for growth,
working with investment bankers to raise additional capital, and the
identification of mergers and acquisitions targets.
Universal's President Vince M. Guest states, "We are very excited about our
plans to expand our Board of Directors. We have made a long termcommitment to
grow the Company, and although we cannot guarantee it, we believe this will
help us to position the Company in its efforts to up-list to NASDAQ or another
major exchange. These actions to expand the board with strong qualified
persons, willhelp lead the Company forward andbuild upon what we already
have done, and help us build a stronger and more profitable Company. We
believe an expanded board will bring the additional resources to help us to
achieve our goals and bring additional value to our shareholders."
AboutUniversal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent
diversified energy company that produces and markets natural gas, petroleum,
coal, propane and refined petroleum energy products. We market energy
resources to the largest public utilities, electric power producers and local
gas distribution companies in the U.S., that serve millions of commercial,
industrial and residential customers. We are also engaged in the acquisition
and development of existing or recently discovered oil and gas fields, leases
and surface coal mines. For more information visit www.universalbioenergy.com
The Universal Bioenergy Inc. logo is available at
Safe Harbor Statement - There are matters discussed in this media information
that are forward looking statements within the meaning of Rule 175 under the
Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of
1934, and are subject to the safe harbor created by those rules. Such
statements are only forecasts and actual events or results may differ
materially from those discussed. For a discussion of important factors which
could cause actual results to differ from the forward looking statements,
refer to Universal Bioenergy Inc.'s most recent annual report and accounts and
other SEC filings. The company undertakes no obligation to update publicly, or
revise, forward lookingstatements, whether as a result of new information,
future events or otherwise, except to the extent legally required.
CONTACT: For inquiries contact:
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