Universal announces Closing of Private Placement

UNIVERSAL WING TECHNOLOGIES INC.

Suite 1818 – 701 West Georgia Street, P.O. Box 10144 Vancouver, British Columbia V7Y 1C6 Tel: 604-689-1799 Fax: 604-689-8199

Sept 9th, 2013 TSX Venture: UAV

Universal announces Closing of Private Placement

Universal Wing Technologies Inc. (the “Company”) is pleased to announce the closing of its private placement of $300,000 through the issuance of 15,000,000 units at a price of $0.02 per unit. Each unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional common share of the Company for a period of two years at a price of $0.05 per share in year 1 and $0.10 per share in year 2. The securities are all subject to a four month plus one day hold period ending January 10, 2014 and the warrants expire at the close of business September 9, 2015.

With reference to and in accordance with the TSX Venture Exchange's (“TSXV”) Bulletin dated April 12, 2013 Re: Private Placements – Extension and Modification of Temporary Relief From Certain Pricing Requirements (the “Temporary Relief Measures”), the Company intends to use the proceeds raised from the private placement to maintain and preserve its existing business activities and assets. The Company confirms that no funds raised as part of the Offering will be used to pay any liabilities owed to any related parties of the Company. The planned use of proceeds is as follows:

Use of Proceeds

• G&A – Audit – Legal Fees $95,000.
• TSX Venture Exchange filing fees and finder’s fees $20,000
• Rent, Property and Government payments. $135,000
• Excluded Amount $50,000

The Offering was approved by the Company’s board of directors, excluding those directors that that have a direct interest in the Offering.

Pursuant to the Offering, Mr. Binny Jassal, the Company's CFO, has acquired 200,000 common shares and 200,000 Warrants. Mr. Jassal now has ownership and control over 288,500 common shares, 200,000 Warrants and 250,000 stock options of the Company, representing 0.82% of the Company's issued and outstanding shares (2.09% assuming exercise of all of the Warrants and options held by Mr. Jassal). Mr. Jassal advises that he has acquired securities for investment purposes and that he may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.

On behalf of the Board of Directors

Universal Wing Technologies Inc.

Per:

“Declan Sweeney”

Declan Sweeney CEO and Director

Forward Looking Statements

This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements and contain forwardlooking information. Generally, forward-looking information can be identified by the use of forwardlooking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forwardlooking information, including: the receipt of all necessary approvals; the ability to conclude a transaction; uncertainty of future production, capital expenditures and other costs; financing and additional capital requirements; the receipt in a timely fashion of any required permitting or regulatory approvals; legislative, political, social or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; and the risks normally involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forwardlooking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with and as required by applicable securities laws.

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release”.