Mr. Harry Katevatis reports

TERMINATION OF ACQUISITION AGREEMENT TO ACQUIRE PROMITHEAS INT'L LTD.

Further to Universal Ventures Inc.'s news releases of July 16, 2015, Nov. 6, 2015, and June 24, 2016, the acquisition agreement dated June 22, 2016, with Promitheas Int'l Ltd. (a private United Kingdom company) and its shareholders, pursuant to which Universal was to acquire all of the issued and outstanding shares of Promitheas, has been terminated in accordance with its terms, as the proposed transaction did not close by Sept. 30, 2016.

Universal also announces that it will not be proceeding with the private placement financing it was to undertake in connection with the proposed transaction.

As a result, Universal will seek out and evaluate new opportunities and will update shareholders of further prospects that may materialize. Universal will request that its common shares be reinstated for trading as soon as possible.