Umbra Companies, Inc Completes Bid to Acquire Orthopedic Implant Company, Ossifix

Tampa, Florida--(Newsfile Corp. - November 17, 2020) -  Umbra Companies, Inc. (OTC Pink: UCIX) announced today that it has initiated the acquisition of the Texas based company Ossifix Technologies, Inc.

Figure 1: Umbra Companies, Inc. logo

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Chief Executive Officer, Alex Umbra commented, "We are pleased to integrate Ossifix into our growing suite of companies. I, as well as the rest of the team, look forward to building the synergy across all of our subsidiary companies by combining the resources and market footprints of all our companies. We believe that this "growth through acquisition approach" will serve to exponentially expand our capabilities so that we can gain a competitive edge in relevant market spaces. I have no doubt that the addition of Ossifix to the Umbra family will be a significant contributor to our collective success."

U.S. based company, Ossifix Orthopedics™ products are manufactured in Austin, TX from select, high-density, allograft cortical bone. Ossifixs' unique manufacturing process and patent pending designs yield an engineered cortical bone implant that provides secure fixation and virtually eliminates any allergic or autoimmune reactions associated with metal or plastic/polymer implants. All Ossifix Orthopedics™ Pin, Screw and Plate Systems are single-use surgical kits with all necessary instruments for implantation and are based on decades of clinical experience and use in the operating room. Additionally, the provided instrumentation that accompanies every Ossifix surgical kit is constructed of an eco-friendly, bio-degradable polymer.

Ossifix is currently working in cooperation with Umbra Applied Technologies to develop biodegradable polymer based surgical instrumentation engineered with their antimicrobial technology brand - Hygieia.

Ossifix CEO, Mark Estrada shared, "I have a longstanding relationship with all the folks over at UAT and UCI which made it a no brainer to join forces. My team and I are very excited about this move and we are eager to show everyone what the future holds."

For more information about Ossifix Technologies go here: https://ossifixtech.com/

About Umbra Companies, Inc.:

The firm is located in Tampa Florida and focuses on advanced technologies across many disciplines. UCI is an investment holding company that invests in both public and private companies during the early stages of development as well as growth stages of companies with a synergistic business model to UCI subsidiaries.

For more information visit www.umbracompanies.com

NEITHER THE SECURITIES EXCHANGE COMMISSION NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information

This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Companies, Inc. including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Risks and uncertainties about Umbra Companies, Inc. business are more fully discussed in the company's disclosure materials, including its MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Umbra Companies, Inc. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

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