SOURCE: Union Equity, Inc.

May 02, 2011 19:00 ET

Union Equity, Inc. Announces Change of Management Control

OTC Disclosure & News Service

ORLANDO, FL--(Marketwire - May 2, 2011) - Union Equity, Inc. (PINKSHEETS: UNQT) announces several significant changes to the corporate management team including the resignation of Steven Woodell as the Company's President and the election of Joam St. Jean, as the Chief Financial Officer and acting interim President.

Mr. St. Jean, the new Chief Financial Officer and acting interim President, has more than 12 years of experience in the accounting industry and 5 years in the leasing industry. Mr. St. Jean's highest education level is a Master's degree in Accounting and Financial Management (MAFM).

The Company accepted the resignation of Mr. Woodell on April 20, 2011 and appointed Mr. St. Jean to the position of acting interim President while the Company seeks a permanent replacement. Mr. Woodell resigned to pursue other opportunities and management does not know of any disagreement with Mr. Woodell on any matter relating to the issuer's operations, policies or practices.

Mr. St. Jean, comments, "I am proud to be serving the future needs of the Union Equity's business. I particularly look forward to long steady growth."

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. 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 Act: This release includes forward-looking statements including our expectations regarding potential investors. These forward looking statements involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

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