MIAMI BEACH, Fla., July 25, 2006 (PRIMEZONE) -- UniverCell Holdings, Inc. (OTCBB:UVCL) and Daytona Brands, Inc. announced today that they have mutually cancelled the definitive Agreement and Plan of Merger.
"Daytona Brands was unable to bring mutually acceptable financing and the deal has been mutually cancelled. UniverCell has been in discussions with other backup candidates for a merger that would bring increased shareholder value. There are several candidates including one particular candidate with whom we expect to execute an LOI shortly," Sean Y. Fulda, UniverCell's Chief Executive Officer, stated.
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements shall be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.