Business
George Green, CEO of Union Dental, Purchases Shares of UDHI From Dutchess in Phase 1 of Agreement
George Green, CEO of Union Dental, Purchases Shares of UDHI From Dutchess in Phase 1 of Agreement.
About this update from Xcelerate Inc.
[{"type":"text","content":"\nGeorge Green, CEO of Union Dental, Purchases Shares of UDHI From Dutchess in Phase 1 of Agreement\n\nGeorge Green, CEO of Union Dental, Purchases Shares of UDHI From Dutchess in Phase 1 of Agreement\n\n\n CORAL SPRINGS, FL--(Marketwired - June 19, 2014) - Union Dental Holdings, Inc. (PINKSHEETS: UDHI) -- http://www.uniondental.com/ir -- a Company that operates and manages a network of dentists throughout the United States for union members, announced that Dr. George D. Green has purchased 8,880,280 shares of stock from Dutchess Private Equities Ltd according to Phase 1 of the Agreement. In a previous announcement the Company stated that they contemplated completing the acquisition of the shares in three phases. Due to the complexity of the acquisition the Company feels it may take a fourth transaction to complete the purchase and want to assure shareholders they will be kept notified of any other changes in the agreement.Dr George Green, President and CEO, stated: \"I am extremely please that Phase 1 has been completed so we can start working on Phase II of our Agreement with Dutchess. These shares have been placed next to all of my other shares with the intent of a long term hold. As most shareholders know for the past ten years I have never sold a share of stock in the Company and want to continue with that philosophy.\"About Union Dental Holdings, Inc. Union Dental Holdings manages a 22 operatory full service dental practice in Coral Springs, Florida. It is the exclusive supplier of Drinkable Air's patented ozone atmospheric water generators for the US dental industry and is a leading innovator for bringing bacteria-free water into the dental operatory settings. Union Dental operates two wholly owned subsidiaries, Direct Dental Services and Union Dental Corp. Direct Dental Services provides dentists with \"areas of exclusivity\" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipe Fitters (UA) and The Association of Flight Attendants - Communications Workers of America (AFA-CWA). Direct Dental Services receives annual management fees from the dentists in exchange for practicing in these \"areas of exclusivity\" where CWA and IBEW members use the dentists' s...