UA Multimedia Inc. Issues Shareholder Update on Recent
Developments and Evolving Corporate Strategy
IRVINE, CA - June 27, 2017 - InvestorsHub NewsWire - UA
Multimedia, Inc. (OTC Markets: UAMM), today seeks to update
investors on recent events, and managements developing strategy, in
light of the Companys changing corporate landscape.
Firstly, management would like to report advancement on the
Companys overall cannabis related endeavors. Plans are underway to
launch an aggressive marketing strategy for the distribution and
sales of the Companys products and services.
Due to recent changes in regulation, FINRA no longer approves
name or ticker changes if the Company has any delinquencies in its
reporting. Consequently, management has withdrawn its application
with FINRA to change the company's name and ticker symbol. In the
Companys endeavor to update the name and symbol to more closely
align with the Companys core business model, it was discovered that
during certain periods between 1999 and 2007, there were some
filings that had become delinquent, and despite efforts, and
considerable dialog, current management is unable to obtain the
missing records to complete the requested filings per FINRA's new
requirements.
Moving forward, management has determined that the best course
of action is to revert to UA Multimedia, Inc., and alternatively
form a new subsidiary under the brand Cannaxa, by which to conduct
its cannabis related business. The Company plans to ultimately spin
this subsidiary off in the future as an independent publicly traded
fully reporting entity.
The issue with the name and ticker change will not affect our
overall business. Now that a conclusion is reached, we will make
the necessary adjustments and begin to aggressively market and sell
our products and services. commented Thu Pham, Chief Executive
Officer.
As previously announced, the Company is offering a turn-key
indoor growing station complete with state-of-the-art LED lighting.
In addition, the full spectrum LED lights, Cannaxa CX-300, are also
available for purchase separately. A single light can output 210
Watts or an HID equivalent of 400 Watts and can cover a 3 x 3 area.
Additional models will also be made available for purchase next
quarter.
LED grow lighting is expected to witness a phase of robust
growth in applications such as vertical farming, commercial
greenhouse, and indoor farming. Previously, LED grow lights were
primarily utilized for indoor farming. But with increasing
awareness about its benefits, such as energy efficiency and low
heat emission, it has started being adopted in large scale in
vertical farming and commercial greenhouse applications.
Also, the growing trend of indoor farming, government
regulations favoring LED lighting, and requirement for
energy-efficient and long-lasting lighting technology as a
supplement to natural lighting for plant growth, drive significant
growth in the LED grow light market. These new opportunities will
not only enhance the overall market in coming years but also lead
to the opening of new market segments.
About UA Multimedia, Inc.
UA Multimedia, Inc., a former media company, has entered the
cannabis industry with its offering of turnkey indoor grow stations
and LED lights. All products will be available through its upcoming
newly revamped websites, cannaxa.com and cannamedi.com. Cannaxa.com will serve as an online
store selling grow related products, while Cannamedi.com will
revolve around the medicinal and wellness sector.
For more information, please visit http://www.uammedia.com. Facebook: https://www.facebook.com/uammedia.
Forward Looking Statements:
This release contains forward-looking statements within the
meaning of Section 27a of the Securities Act of 1933, as amended
and section 21e of the Securities and Exchange Act of 1934, as
amended. Those statements include the intent, belief or current
expectations of the company and its management team. Some or all of
the events or results anticipated by these forward-looking
statements may not occur. Prospective investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those projected in the
forward-looking statements as a result of various factors.
Accomplishing the strategy described herein is significantly
dependent upon numerous factors, many that are not in management's
control. UA Multimedia, Inc. does not undertake any duty nor does
it intend to update the results of these forward-looking
statements.
Contact
UA Multimedia, Inc.
Investor Relations
949.612.1927
info@uammedia.com