VANCOUVER, British Columbia, Dec. 20, 2013 (GLOBE NEWSWIRE) -- Olie Inc. (OTCQB:OLIE) (Olie) President, Robert Gardner, is pleased to announce that it is has commenced negotiations to complete an acquisition and roll up of UCP Holdings (OTCQB:UCPH) (UCP) as a wholly owned subsidiary of Olie. The transaction will be for Convertible Preferred C Stock of Olie. Final acquisition documents will be completed once the due diligence review has completed its forensic analysis of UCP.
Robert Gardner, President of Olie states, "Again, an acquisition of another publicly traded company is rarely accomplished in the micro-cap market, but because of the preferred instruments, all doors are open. We are specifically looking for Issuers with low debt to equity ratios and companies with assets on their audited financial statements. We then are able to consolidate in Olie's financial statements. UCP has substantive equity, very little debt, and great potential in its ability to attract private companies wishing to go public."
Safe Harbor Statement:
This release may include "forward looking statements" within the meaning of Section 27 A of the Securities Act 1933 as amended, and Section 21 E and /or 27 E of the Securities Exchange Act of 1934, that are based on assumptions that in the future are inherently uncertain, may prove not to be accurate, and are subject to significant risks and uncertainties. These include, but are not limited to statements as to the future performance of the company, its ability to raise necessary financing, and other general economic risks and uncertainties.