UMAX Group Corp. (OTCMKTS:UMAX) Signs Documentation for Formation of UMAX Development LLC
LAS VEGAS, NV / CRWEPRESSRELEASE / Oct 5, 2015 – UMAX Group Corp. (OTCMKTS:UMAX) announced CEO Ian Dixon has signed documentation for the formation of UMAX Development LLC in Utah in conjunction with the General Contractor Brad Gil of Harmony Homes as per the joint venture agreement terms and conditions previously negotiated. The filing of the LLC will officially launch the UMAX operations in UTAH to develop its general contracting division. UMAX Development LLC has already identified various projects to undertake. The general contractor will now officially run the day to day operations via UMAX Development LLC in which UMAX of Nevada hold a 51% ownership in the LLC. This in turn will produce revenue for UMAX Nevada in the coming months. In light of the need to build the general contractor division and other divisions of the company, UMAX board has decided to create B Class Preferred Shares Offering to raise capital for said growth, it intends to have a higher conversion rate of 5:1 common on the B Class Preferred Shares to offer to accredited investors hopefully raising $2,000,000 USD for already identified projects. This will allow the company to move forward in growth and future earnings for its shareholders in general.
Forward Looking Statement
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Source: UMAX Group Corp.