UniverCell (CE) (USOTC:UVCL)
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UniverCell Holdings, Inc. and Recall Mail Corporation Enter into
Definitive Merger Agreement
MIAMI BEACH, Fla., May 20 /PRNewswire-FirstCall/ -- UniverCell Holdings, Inc.
(OTC:UVCL) (BULLETIN BOARD: UVCL) and Recall Mail Corporation announced today
that they have entered into a definitive Agreement and Plan of Merger.
Recall Mail, founded in 2003, operates http://www.bigstring.com/ through its
wholly owned subsidiary EmailEmissary, Inc. Bigstring is an e-mail service for
individuals and businesses that uses patent-pending technology which permits
users to erase, recall, modify and set an expiration date for their e-mails,
even after they have been sent.
The Agreement and Plan of Merger provides for the merger of a wholly owned
subsidiary of UniverCell into Recall. As a result of the merger, the
shareholders of Recall will receive shares of UniverCell common stock for their
Recall shares and are expected to own approximately 76.4% of UniverCell's
common stock, on a fully-diluted basis, following the merger.
The proposed merger is subject to certain customary conditions, including
UniverCell and Recall receiving shareholder and regulatory approval.
"After searching for a merger candidate which would increase shareholder value
for the UniverCell shareholders, we are very pleased to enter into this
Agreement and Plan of Merger with Recall and look forward to a fruitful
relationship," Sean Y. Fulda, UniverCell's Chief Executive Officer, stated.
"We look forward to completing our merger with UniverCell," said Darin Myman,
President and Chief Executive Officer of Recall. "We are excited at being part
of a public company, which we believe will allow us to further our growth
strategy to make our Bigstring email technology an industry standard."
Statements about the Company's future expectations, including future revenues
and earnings, and all other statements in this press release other than
historical facts are forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as that term is defined in the
Private Securities Litigation Reform Act of 1995. The Company intends that
such forward-looking statements shall be subject to the safe harbors created
thereby. Since these statements involve risks and uncertainties and are
subject to change at any time, the Company's actual results could differ
materially from expected results.
DATASOURCE: UniverCell Holdings, Inc.
CONTACT: Sean Fulda, UniverCell Holdings, Inc., +1-786-276-7817, or
Darin Myman, Recall Mail Corporation, +1-732-359-0270
Web site: http://www.bigstring.com/