United Initiates Discussions on New Settlement Terms: Increase in $2,100,000.00 Value Expected
LAS VEGAS, May 06, 2005 (BUSINESS WIRE) --
United Development International (OTC: UDVE) announces today that the company has re-opened discussions with the purchaser of its Guyana assets. Original terms were in relation to gold prices below $395.00 an ounce.
With gold prices consistently over $425.00 an ounce recently, the company expects the minimum value of the $2,100,000.00 settlement will increase. This in turn would increase the value of the recently announced cash dividend.
This dividend will be delivered to all common stock holders of the recorded date of the transfer of funds from the recently announced sale of assets of United Development.
United Development International, quoted on NQB Pink sheets as "UDVE".
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.
United Development International, Inc.
Staff, 250-319-3442
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