Corporate Universe, Inc. Announces Exploration of Strategic Alternatives of Its Wholly Owned Subsidiary Carbon-ion, Energy, Inc.
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NEW YORK, NY / ACCESSWIRE / April 22, 2024 / Corporate Universe (OTC Expert Market:COUV) Corporate Universe, Inc. (the "Company"), a holding company engaged in the energy sector where it is developing next generation of supercapacitors today announced that it is conducting a process exploring strategic alternatives to maximize shareholder value. The Company's wholly-owned subsidiary, Carbon-Ion Energy, Inc. ("Carbon-Ion") is a leading innovator in super capacitors for grid scale energy storage applications.
As part of this process, the Company plans to consider a wide range of options with a focus on maximizing shareholder value, including a potential sale of assets of Carbon-Ion, a sale of Carbon-Ion, a merger, business combination or other strategic action related to Carbon-Ion.
The Company's Board of Directors has appointed EBB Group as financial advisor to assist in its review of strategic alternatives. Sheppard Mullin Richter & Hampton LLP has been appointed as legal advisor in connection with the review process.
There can be no assurance that its exploration will result in the Company pursing a transaction or that the transaction if pursued will be completed on attractive terms, if at all. The Company has not set a timetable for completion of this evaluation process and does not intend to disclose further developments unless it is determined that further disclosure is appropriate or necessary. There can be no assurance regarding the results or outcome of this review.
If the Company is unable to achieve its objective, it may be necessary to seek additional financing or other alternatives for restructuring and resolving its liabilities.
About Corporate Universe, Inc.
Corporate Universe, Inc. (the "Company") acts as a holding company and is engaged in the energy sector where it is developing next generation of supercapacitors. Through its subsidiaries Carbon-ion Energy, Inc and Oxcion Limited, the Company is developing a new class of energy storage device with considerable functional improvements over commercially available supercapacitors. This technology is referred to as the Carbon-ion or C-ion cell in contrast to Lithium-ion or Li-ion. The C-ion cell has been designed to provide specific power characteristics significantly higher than a Li-ion cell. It is designed to be classified as non-flammable and non-hazardous for transport, allowing the product to be shipped easily and to comply with both current and future regulations. Due to the method of energy storage, the cell has fewer moving parts electrochemically and is designed to go through significantly more charge/discharge cycles or and operate for many years of normal use. The C-ion cell is being designed for manufacture using many of the technologies well known in Li-ion cell production..
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Corporate Universe, Inc. that constitute forward-looking statements for purposes of the safe harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Corporate Universe, Inc. cautions you that any forward-looking information provided by or on behalf of Corporate Universe, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Corporate Universe, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Corporate Universe, Inc.'s control. In addition to those discussed in Corporate Universe, Inc.'s press releases, public filings, and statements by Corporate Universe, Inc.'s management, including, but not limited to, Corporate Universe, Inc.'s estimate of the sufficiency of its existing capital resources, Corporate Universe, Inc.'s ability to raise additional capital to fund future operations, Corporate Universe, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Corporate Universe, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Corporate Universe, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT:
Corporate Universe Inc, Carbon-ion, Energy, Inc
info@carbon-ion.energy
+1 212 220 8416
SOURCE: Corporate Universe
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FAQ
What is Corporate Universe, Inc. exploring for its subsidiary Carbon-Ion Energy, Inc.?
Who has been appointed as the financial advisor for Corporate Universe, Inc.'s exploration of strategic alternatives?
Which law firm has been appointed as the legal advisor for Corporate Universe, Inc.'s review process?
Is there a guarantee that the exploration of strategic alternatives will lead to a transaction for Corporate Universe, Inc.?
What may happen if Corporate Universe, Inc. is unable to achieve its objective through the exploration process?
