NEWPORT BEACH, Calif., Nov. 27 /PRNewswire-FirstCall/ -- Universal Guardian Holdings, Inc. (OTC Bulletin Board: UGHO), an emerging global leader in non-lethal protection products and strategic security services to protect against terrorist, criminal, and security threats today announced that on November 16, 2007 , it entered into a non-binding term sheet with Isonics Corporation to complete a merger by which Isonics will acquire all of the outstanding shares of Universal Guardian.
"Universal Guardian believes that, if completed, this will be a synergistic merger between UG Services and UG Products with Isonics' Protection Plus Security Corporation subsidiary based in New York," stated Kevin Westcott , President and COO of Universal Guardian.
The non-binding term sheet contemplates a tax-free reorganization for the
shareholders of Universal Guardian pursuant to which they would receive
Isonics common stock with an aggregate value of approximately
The obligations of Isonics and Universal Guardian to complete the transaction are subject to a number of conditions precedent and, therefore, there can be no assurance that Isonics or Universal Guardian will complete the transaction at all or on the same terms contemplated. Among the material conditions precedent are the following:
About Universal Guardian Holdings
Universal Guardian Holdings, Inc. (Universal Guardian) and its subsidiaries provide a comprehensive range of security products and services designed to mitigate terrorist and security threats worldwide. Universal Guardian's global risks mitigation group includes strategic and tactical security services as well as non-lethal and tactical products for law enforcement, military, professional security and consumer markets.
Universal Guardian Holdings website: http://www.UniversalGuardian.com
Safe Harbor Statement:
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SOURCE Universal Guardian Holdings, Inc.