Uniserve enters Share Exchange Agreement to acquire an additional 20% of Glenbriar Technologies

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VANCOUVER, British Columbia, July 04, 2017 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (TSX-V:USS)is pleased to announce, subject to regulatory approval, it has entered into an agreement with the five principals and directors of ...

VANCOUVER, British Columbia, July 04, 2017 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (TSX-V:USS) is pleased to announce, subject to regulatory approval, it has entered into an agreement with the five principals and directors of Glenbriar Technologies Inc. to acquire an additional 20% of the issued and outstanding shares.

Uniserve will exchange 2,148,450 (post consolidation) Uniserve shares for an additional 26,855,804 Glenbriar shares held by the directors of Glenbriar. Upon closing of this transaction, Uniserve will own 82.2% of the issued and outstanding shares of Glenbriar.  The expected closing date for this transaction is on or before July 31, 2017.

As Uniserve's CEO Nicholas Jeffery stated, "This is another vital step in the integration of the Glenbriar team into Uniserve, allowing us to deliver on our strategy to build revenue, strengthen our managed service portfolio and expand nationally across Canada."

Uniserve further wishes to announce that it has closed on the transaction to purchase Xanity Cloud Solutions Inc. as announced in the June 12, 2017 press release.

About Uniserve

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.

Uniserve has 13,000 customers spread across Residential / Small Office / Home office and Enterprise, so where ever you are trying to make smart, secure and resilient - we can help you.

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.

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 a number of 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

Complément d'information
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