United EcoEnergy Corp (UEEC) Announces Acquisition Term Sheet

NEW YORK, Oct. 1 /PRNewswire-FirstCall/ -- United EcoEnergy Corp. (UEEC) today announced the signing of a Term Sheet to acquire an up to 35% stake in Shelby SuperCars, Inc. (SSC). Kelly Hickel, Chairman of UEEC said,

"This is an exciting opportunity for us. Shelby Super Cars has created a unique vehicle and new market entry that sets the world standard for years to come. Their vision and their strategy is exactly where we think the market is headed and we look forward to helping them accomplish their plan."

UEEC is investing $1 million of its stock in SSC in exchange for 5% of SSC's shares at the closing of the investment agreement, 25% of SSC's shares in exchange for investing $5,000,000 and another, up to 5% of SSC's shares when the $5 million investment is completed.