UC Asset announces annual shareholder meeting to discuss $1 million profit

ATLANTA, March 3, 2023 /PRNewswire/ -- UC Asset LP (OTCQB: UCASU) (OTC: UCASU) management announces that company has scheduled its annual shareholder meeting on March 31, 2023, to discuss its 2023 business plan, with which the company projects a gross profit of approximately $1 million, or, about $0.19 per share.

All shareholders by the year end of 2022 are eligible to attend the meeting. The meeting will be held virtually on the Zoom platform, and all eligible attenders will receive a meeting notice via mail or email.

Among other business matters, management will detail the company's plan to further transition its portfolio from residential properties to cannabis cultivation properties. Accordingly, the company is launching a campaign to rebrand its portfolio as "Ultimate Cannabis Asset".

Management also plans to revise the bylaw of the company with purpose to reduce its management fee and improve net profit. The revision may require a shareholder vote, which may be conducted before or at the annual meeting.

The company announces its annual shareholder meeting after it claims that it has become debt free and carries positive cash reserves, and is on track in its pursuit of $1 million gross profit for the year of 2023. The company has already realized $550,000 gross profit in the very first month of the year.

UC Asset had been operationally profitable in previous years. Last year, the company completed distribution to its shareholders a cash dividend of $0.10 per share, out of a $0.11 per share net income. Management has indicated that the company may distribute more dividend to its shareholders, if it reports higher net income.

About UC Asset LP

UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies.  For more information about UC Asset, please visit: www.ucasset.com

Disclaimer:

This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.

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SOURCE UC Asset LP