SOURCE: Universal Media Corporation

February 18, 2010 16:24 ET

Universal Media Corporation Announces Subsidiary Acquisition Agreement With Global Renewable Energy Systems, Inc.

FORT WORTH, TX--(Marketwire - February 18, 2010) -  Universal Media Corporation (PINKSHEETS: UMED), announces the signing of a Subsidiary Acquisition Agreement with Global Renewable Energy Systems, Inc. (GRES), an Oregon Corporation. GRES shareholders will receive 23,654,150 shares of UMED restricted common stock at closing in return for a 100% of the GRES issued and outstanding shares.

Global Renewable Energy Systems, Inc. is a renewable energy business created to address the current "Global Renewable Energy Problems" by providing proven energy technology systems for solving existing environmental problems within markets. GRES will initially be focusing on three primary projects: (1) BioGas-to-Power "Animal Waste Material"; (2) Oregon Harvesting Juniper Tree Wood Pellet Plant; and (3) Oregon Existing Waste Tire & Collection Recycling Business to convert existing products or materials like "Waste Tires or Juniper Tree Harvesting" into marketable clean energy product.

The BioGas-to-Power systems are designed for a zero discharge waste management facility that recycles water, produces fertilizer and electricity to support not only the farming system, but qualifies internationally for "Carbon Credits" under the Kyoto Protocol, which are more and more in demand as an offset by the carbon producing industries.

"This acquisition will allow UMC to expand into other growth industries as it continues to expand and grow as a multi-industry holding company, continue to build the Company's asset base, develop cash-flow, and continue to build shareholder value," stated CEO Randy Moseley.

"GRES looks forward to joining UMED and having the opportunity to execute on its business of addressing Global Renewable Energy Problems," stated CEO Doug Johnson.

About Universal Media Corporation.

Universal Media Corporation (UMC), located in Fort Worth, Texas, has interest in media outlets and is in the process of establishing an over-the-air television stations in various markets across the country with its base being in the Dallas/Fort Worth market. UMC is also reviewing strategic acquisitions of other media and existing green energy companies to continue its growth strategies and increase its presence in these industries.

More information will be reported during the coming months.

Forward Looking Statements
This Press Release is for informational purposes only and is not intended as a solicitation of funds, and contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Contact Information

  • CONTACT:
    Universal Media Corporation
    817-223-2211