EDMONTON, Jan. 29 /CNW/ - S. Jorstad, Chairman, President and CEO of
United Protection Security Group Inc. (UPSG or the Company), a Canadian based
company, trading on the TSX-Venture Exchange, under the symbol (TSX-V: UZZ)
announces that it has entered into a non-binding term sheet with respect to
the purchase of a major U.S. based Security Services provider.
Final details of the proposed acquisition will be determined on
completion of the formal agreement. Annual sales of the target company were
just under $100,000,000.US in 2007. The purchase price, for a controlling
interest, is proposed to involve cash, shares and a vendor take-back. Cash to
close is intended to be raised through a share offering led by a major
investment banking firm and other investment firms by way of prospectus.
Mr. Jorstad states that this acquisition, which provides both man guard
and electronic video surveillance services with multi branch offices in the
US, will provide United Protection Security Group Inc. with the link it has
been looking for in the US market, as well as greatly expand its video
surveillance and monitoring operations. Closing of the transaction is targeted
for March 31, 2008.
This transaction is subject to reaching agreement on the terms and
conditions in a definitive purchase agreement and will require approval from
the Board of Directors of UPSG and the TSX-Venture Exchange.
About United Protection Security Group Inc.
United Protection Security Group Inc. is an established security
protection company focused on high impact, high visibility, and high risk
security situations, coupled with one of the broadest ranges of traditional
private security services in the industry.
Delivering 21st Century Solutions to centuries old problems through a
network of 'Elite Private Protection Professionals'.
Pro-Active and Progressive Management has moved the company into the
ranks of one of the most dynamic security companies in Western Canada. With a
strong foundation and a dedicated professional management team, we are moving
forward into the next level in our development strategy.
United Protection Security Group Inc. is committed to providing its
clients with a "superior quality service" at a competitive price. It is
further committed to providing its employees and associates with the
assistance, support, and opportunity to maximize their individual potential
for excellence, peak performance and personal growth. It is the Company's
policy and highest priority to protect the health and welfare of all its
clients and employees and their respective property.
Certain statements contained in this press release, including statements
which may contain words such as "could", "should", "expect", "anticipate",
"believe", "will", and similar expressions and statements relating to matters
that are not historical facts are forward looking statements. Such forward
looking statements involve known and unknown risks and uncertainties which may
cause the actual results, performances or achievements of UPSG to be
materially different from any future results, performances or achievements
expressed or implied by such forward looking statements. Such factors include
changes in external market conditions, demand for the company's services,
availability of capital, the company's ability to attract and retain key
personnel and other factors.
Stock Awareness Activities
To find out more about United Protection Security Group Inc. (TSX-V:
UZZ), visit our website at www.unitedprotection.com
To join the 'request for information', 'email alert' data base, go to the
web page www.unitedprotection.com and click the tab 'request information' and
follow the Prompts.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
United Protection Security Group Inc.
For further information:
For further information: For further investor and media relations
inquiries contact: MI3 Communications Financiers Inc., Mario Dorlet, (514)
904-1333; Corporate Office, (780) 465-8108, (780) 993-1703, Toll Free