TAMPA, FL--(Marketwired - Aug 24, 2016) - Umbra Applied Technologies Group, Inc. (OTC: UATG) announced today that the Company has affected change in Preferred B shares by reducing the number of outstanding Preferred B shares from 8,000,000 to approximately 740. Mr. Umbra is the largest holder of the Preferred B shares. Mr. Umbra owned 3,000,000 Preferred B shares prior to this change and has 319 shares after this change.

The Company's Common Stock remains unaffected. 

UATG continues to believe that the change of the non-trading Preferred B shares, will allow a broader range of potential investors to participate in the ownership of shares, based on technical factors and constraints which previously may have deterred them from doing so. The Company hopes the change of the non-trading Class B shares will mitigate the market price volatility experienced by the common shares in recent months and serve to support the company's pursuit of a NASDAQ Listing.

The Board of Directors believes that the change in the Class Preferred B Shares, will improve the marketability and liquidity of the common stock, and to further facilitate potential future financings. The majority of the Class B Preferred shareholder's approved the change by vote of the Class B shareholders on April 10, 2016 and was also approved by UATG Board of Directors as well as the majority votes of the Preferred B stock holders.

Alex Umbra, Chairman and Chief Executive Officer of UATG, said, "Maintaining our current trajectory towards a NASDAQ listing is very important to the company, its subsidiaries, shareholders, clients and vendors. This change should enable us to attract larger institutional shareholders."

Shareholders should direct any questions concerning the change in the non-trading Preferred B shares to their broker, Transfer Agent or UATG's Investor Relations department (888) 926-4682.

For more information visit www.uatgroup.com or www.umbraappliedtechnologies.com

Forward-Looking and Cautionary Statements: This press release contains "forward-looking" statements that are based on present circumstances and on Umbra Applied Technologies Group predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements, including any statements regarding the plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Forward-looking statements are made only as of the date of this release and Umbra Applied Technologies does not undertake and specifically declines any obligation to update any forward-looking statements. Readers should not place undue reliance on these forward-looking statements.

Contact Information:

UATG Investor Relations
(888) 926-4682