CORAL SPRINGS, FL--(Marketwired - June 10, 2014) - Union Dental Holdings, Inc. (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 entered into an agreement to purchase all of Dutchess Private Equities Ltd. shares of stock held in UDHI. This will also include all of the underlying shares of stock from the warrant issued to Dutchess which is a part of their equity holdings through a financing many years ago in UDHI.
This will take place in three phases over the next couple of months or as soon as the appropriate documents can be prepared, shares issued and documents reviewed by counsel and signed.
Dr George Green, President and CEO stated: "Ever since UDHI entered into a PIPE (Private Investment in a Public Entity) agreement in 2005 the Dutchess financing which help to build our expansion there has always been an overhang of shares in the marketplace keeping the stock from moving upwards and remained at a low price. Now that obstacle has been removed. I am pleased to announce to shareholders that hangover has been eliminated. As shareholders have witnessed over the past 10 years by my Form 4 filings I have never sold any of my holdings in the company and intend to keep that policy in place."
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' services.
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