Friday, December 9, 2011

Defense and Security Stocks; UPSG (TSX-V: UZZ) completes new $4.5M USD receivable financing

News about United Protection Security Group Inc. (TSX-V: UZZ)
EDMONTON - December 9, 2011 ( Newswire) - F.V.Ramsoondar, Chief Executive Officer of United Protection Security Group Inc. ("UPSG" or the "Company"), (TSX-V:UZZ) is pleased to announce that pursuant to a press release dated October 24, 2011 , the Company has now completed its new receivable financing of up to $4.5M USD with a New York based International Lender specialized in asset-based lending.
The new facility has now replaced a $3,000,000 operating loan previously provided by a Canadian chartered bank. The Company has concurrently issued 8,000,000 common shares at $0.05 per share to Mr. F.V. Ramsoondar , CEO, in compensation for Mr. Ramsoondar giving his personal guarantee of the validity of the financial information that will be provided to the New York based financing company on an on-going basis.
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Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks related to business development and retention, and risks related to the current economic and credit conditions. These risks are discussed in the Company's Management Discussion and Analysis and other continuous disclosure documents. As a result, actual results may vary materially from those described in the forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For additional investor and media relations inquiries contact:
Fredy Ramsoondar CEO and Director
Tel: 780-465-8101
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