Universal Resources (f/k/a Global Immune Technologies, Inc.) signs a Memorandum of Understanding with bacterras Inc. and announces the resignation of one of its officers and directors
BEVERLY HILLS, Calif., April 30, 2018 /PRNewswire/ -- Universal Resources (the "Company"), formerly known as Global Immune Technologies, Inc. (GIMU), announced today that on April 20, 2018, it entered into a memorandum of understanding (the "MOU") with bacterras Inc. ("bacterras"), www.bacterras.com, of Montreal, Quebec, Canada.
Under the MOU, GIMU has the right to acquire up to a forty percent (40%) ownership interest in bacterras within six months of the signing of the MOU, and the Company will assist bacterras in its financing efforts.
Bacterras is an agri-technology company that has developed a bacterial-based nutrient supplement that both reduces methane emissions from dairy cattle and improves the quality of milk from treated cows.
In addition, on April 12, 2018, Mr. Christopher Petzel, one of the Company's directors and officers, resigned as a member of the Company's Board of Directors and as an officer of the Company.
The intention of bringing the Company back into compliance with its filing and reporting requirements remains with the Securities and Exchange Commission, FINRA, OTC Markets and the state of Nevada.
