Universal Wing decides UAVs not so good after all
2011-09-23 14:26 ET - News Release
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Mr. Declan Sweeney reports
UNIVERSAL WING CONSIDERS ENERGY PROJECTS
Universal Wing Technologies Inc.'s board of directors is considering projects in the energy sector and may acquire an interest in a project for exploration or development. The company's roots are in energy and until recently the company has had interests in oil and gas projects. The company is classified as a junior energy company on the TSX Venture Exchange.
The company has determined that the unmanned aerial vehicle technology business is more easily financed through shareholder loans, and operations are better suited to the structure of a private company. Management believes a renewed focus on energy will result in growth and success, and this will reward shareholders.
