Uniserve Completes Purchase of IT Services Assets from Glenbriar

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VANCOUVER, British Columbia, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (the "Company" or "Uniserve") today announced that it has now completed the purchase of the information technology services business of Glenbriar ...

VANCOUVER, British Columbia, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (the "Company" or "Uniserve") today announced that it has now completed the purchase of the information technology services business of Glenbriar Technologies Inc. (CSE:GTI) ("Glenbriar").  The final purchase price for the assets, after adjustments, was $1,782,492, of which $245,984 was paid in cash and the balance paid by way of demand promissory note.  The Company has now completed the integration of Glenbriar's business into the Company.  The asset sale was approved by the Glenbriar shareholders on December 4, 2017.

The Company currently owns 86.2% of the outstanding shares of Glenbriar. Glenbriar intends to declare a dividend of $0.0136 per share to its shareholders.  The portion of the dividend payable to the Company will be satisfied by cancellation of the promissory note referred to above.

The Company also wishes to announce that Robert Matheson has resigned from the Company's board. The Company wishes to thank Robert for his contributions to the Company, including assisting with the integration of Glenbriar's business into the Company.

About Uniserve

Uniserve (TSX-V:USS) is a unified communications company delivering integrated voice, data and media services to over 13,000 customers within the residential, business-to-business and enterprise IT markets, currently focusing on Western Canada.

The Company has been in existence for almost 28 years and has a client base across three sectors selling directly and through the wholesale channel.

Recently, the Uniserve board hired Nicholas Jeffery as the new CEO, who has a wealth of internet service provider and managed service company experience.

Uniserve prides itself on delivering world class customer services. It believes that when all else is equal you can trust the company to offer highly competitive pricing and cutting-edge technology bundles, all underpinned by an exemplary customer service team based in Canada.

This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.

Learn more at www.uniserve.com or at www.sedar.com.

Michael C. Scholz
Chairman of the Board

For more information please contact Mr. Mark Stanton at 604-395-3908 or email us at mark.stanton@uniserveteam.com.

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 several factors.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: UNISERVE COMMUNICATIONS CORPORATION via Globenewswire

Source(s) : UNISERVE COMMUNICATIONS CORPORATION

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