SOURCE: Union Equity, Inc.

June 24, 2010 08:30 ET

Union Equity, Inc. in Process of Upgrading Its Pink Sheets Status to Current Information

ORLANDO, FL--(Marketwire - June 24, 2010) -  Union Equity, Inc. (PINKSHEETS: UNQT) is pleased to announce that the Company is in the process of filing all of the necessary documentation to attain the Pink Sheets Current Information status with the Pink OTC Markets and expects to have achieved this status within the next thirty (30) days. According to Pink Sheets, approximately 98% of the average dollar trading volume is generated by companies whose securities are identified on the Pink Sheets Current Information tier and higher, suggesting a strong correlation between company transparency and trading volume.

Companies that provided current disclosure to the public markets, directly through Pink OTC at the Pink Sheets Current Information Market Tier averaged over $43 million in volume per security in 2009. This total represents over 67% of all dollar volume traded in OTCQX, OTCBB, and Pink Sheets securities combined for the entire year.

Pink OTC Markets Inc. is a financial information and technology services company that operates the leading electronic quotation and trading system in the Over-the-Counter, or OTC, securities market. The OTCQX and Pink Sheets marketplaces that they operate constitute, by dollar volume, the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. and The New York Stock Exchange.  Pink Sheets technology platform provides a comprehensive suite of information products and trading services for OTC market participants.

"We hope that meeting the Current Information guidelines will allow us to better satisfy the needs of our shareholders," stated Steven Woodell, President of Union Equity, Inc. "We want the market to learn more about Union Equity's progress and we believe that Pink Sheets is a valuable informational channel for us to reach our shareholders."

"The Company has been working diligently compiling its information for filing with the Pink Sheets OTC disclosure and news service to update our corporate disclosures," stated Randy Lance, Chairman of Union Equity, Inc. "Achieving Current Information Status with Pink OTC Markets is a major part in improving shareholder value and boosting liquidity for our stock. We believe that potential investors who have been following our Company will feel more comfortable in buying shares when we have a higher level of transparency."

About Union Equity, Inc.

Union Equity is a commercial truck leasing business engaged in leasing class 8 commercial trucks to owner operators located around the contiguous 48 states since 1999. Many owner operators drive on a for hire basis for Fortune 500 companies, while others have their own authority to haul freight throughout the United States. Union Equity's strategy has been to target both groups of owner operators through an aggressive marketing program and complete "one stop shop" solution for the owner operator. Through their unique business model, Union Equity is able to provide owner operators with a leased truck regardless of their credit history. Owner operators need only to have a valid commercial driver's license, acceptable insurance, proof of a shipper's intent to hire, and a willingness to work.

Safe Harbor: This release includes forward-looking statements including our expectations regarding achieving Pink Sheets Current Information status. Forward-looking statements can also be identified by words such as "targets," "expects," "believes," "anticipates," "intends," "may," "will," "plan," "continue," "forecasts," "remains," "would," "should," and similar expressions. Forward-looking statements are based on current expectations, are not guarantees of future performance and involve assumptions, risks, and uncertainties. Actual performance and results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Risks and uncertainties include not providing Pink Sheets with the appropriate documentation or the Pink Sheets declining to upgrade our status. Union Equity does not have a duty to and does not intend to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

Contact Information

  • Investor Relations:
    Management Solutions International
    1 407-389-5900