InvestorsHub Logo
Followers 30
Posts 2684
Boards Moderated 0
Alias Born 03/19/2005

Re: pennypauly post# 158

Thursday, 06/30/2005 5:01:35 PM

Thursday, June 30, 2005 5:01:35 PM

Post# of 160
United: Transfers All Assets to Private Corporation
Thursday June 30, 4:27 pm ET
Public Vehicle Sold to Philippine Consortium

LAS VEGAS--(BUSINESS WIRE)--June 30, 2005--United Development International's (Pink Sheets: UDVE - News) board of directors has transferred all assets of the corporation to United Shareholders Holdings Corp. and has sold the public vehicle to a Philippine gold mining consortium. This transaction is effective July 1, 2005.

Upon completion of the transaction, shareholders will still have equity in the new structure, Mindenao Gold Mining Corp. (Pink Sheets: MDGM - News). Also, any future payouts announced previously in United will be the responsibility of United Shareholders Holding Corp.

Further, as a requirement of the sale, Robert Doherty has officially resigned from United Development as of the end of business today and will not be a part of Mindenao Gold Mining Corp.

If you have any questions, please contact the company at unitedsharecorp@yahoo.com.

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.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.