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VANCOUVER, British Columbia, Oct. 12, 2017 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (the “Company”) is pleased to announce the purchase of an additional 5 million shares of Glenbriar, taking its holdings to approximately 86%. The Vancouver office of Glenbriar has been merged into Uniserve’s Vancouver office and all operations in the Calgary and Waterloo offices are being streamlined under the Uniserve umbrella. It is anticipated this will be completed by year-end.
The Company is pleased to announce $420k of convertible debt has been shifted to equity, resulting in the issue of approximately 2.2 million shares. Also, the balance of 656,000 warrants, expiring in September 2017 at $0.375 have been exercised in full.
The Company has also negotiated a $700k one year loan with interest at 3.5% per annum and have used part of the proceeds to retire a $470k debt with interest chargeable at a higher rate.
Of the 2.6 million warrants exercisable at $0.175 cents and expiring March 31, 2018, approximately 80% of those warrants have already been exercised.
Uniserve is a unified communications company which has been in existence for over 28 years, combining voice, data and media all into one seamless solution, one bill and one point of contact in Canada, spread across 13,000 customers serving the Residential / Small Office / Home office and Enterprise markets.
Uniserve prides itself on world class customer services, when all else is equal you can trust Uniserve to have a great price, a world class customer experience and a company you trust and like working with.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
Michael C. Scholz
Chairman of the Board
For more information please contact Mr. Mark Stanton at 604-395-3908 or email us at [email protected].
Neither TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Management has prepared this release and no regulatory authority has approved or disapproved the information contained herein. The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management’s estimates, assumptions and projections using available information. Uniserve cautions that actual financial results could differ materially from the current expectations due to a number of factors.