N🟁N

Tri-Star Holdings, Inc.: Tri-Star Holdings, Inc. Announces Memorandum of Understanding With UC Hub, Inc.

  //science-technology.news-articles.net/content/2 .. memorandum-of-understanding-with-uc-hub-inc.html
  Published in Science and Technology on Monday, January 5th 2009 at 9:42 GMT, Last Modified on 2009-11-02 16:22:14 by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

FT. LAUDERDALE, FL--(Marketwire - January 5, 2009) - Tri-Star Holdings, Inc. (PINKSHEETS: [ TSHL ]) announced the company has entered into a binding Memorandum of Understanding with UC Hub Group, Inc. (OTCBB: [ UCHBE ]) regarding the sale of the mining contracts to UC Hub. The agreement shall be completed on Wednesday Jan 7, 2009. UC Hub Group, Inc. will introduce a new and proprietary extraction technology that the parties believe will potentially increase the volume of minerals to be extracted using this proprietary method. The technology has no known negative impact on the environment and may diminish the obstacles of environmental and regulatory issues. The technology has been recently utilized in a mining environment and the positive results will now be applied to the minerals of each mine. Parties anticipate they will first consummate a formal acquisition contract, then implement the technology in a phased application to mining operations beginning this month.

While the Company is in receipt of a memorandum from UC Hub Group, Inc., the negotiations of any merger arrangement are in preliminary stages and any merger or acquisition would remain pending the execution of definitive agreements. Management stated further that specifics have been tentatively negotiated, and will be released along with future developments and/or the terms of agreement via press release and on the company's corporate website, [ http://www.tristarcorporate.com/ ].

Anthony Mellone stated: "We know everyone is wondering what will be happening and how it will benefit them. We have a plan of action to support the company's growth and shareholder value and assure you that we fully believe that the specifics relative to the acquisition, when closed, are in the best interest of shareholders. Furthermore, along with the UC Hub deal, we will be releasing new details of company developments, specific to the medical division along with other progress by the end of the week."

Safe Harbor Provision

This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Tri-Star Holdings, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.