Chicago, Illinois, July 29, 2015 (OTC Pink Sheets: UAHC) – United American Healthcare Corporation (the “Company”) announced today that the Company’s Board of Directors on July 23, 2015 approved a Seventh Amendment to its Voting and Standstill Agreement (the “Seventh Amendment”) with St. George Investments, LLC, an Illinois limited liability company (“St. George), and The Dove Foundation, an Illinois trust (“Dove”). St. George is an affiliate of Mr. Fife.
In the Seventh Amendment, St. George and Dove have agreed to forbear from exercising their current rights under the Voting and Standstill Agreement to require the Company to repurchase their shares of the Company’s common stock (“Common Stock”) at a price of $1.26 per share, in exchange for a postponement of the commencement of the six-month period during which St. George and Dove may exercise such “put option” until April 1, 2016.