Uniserve to Sell Glenbriar Shares

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VANCOUVER, British Columbia, March 01, 2018 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation ("Uniserve") announces that it has entered into agreements to sell all of its 112,366,804 common shares of Glenbriar Technologies Inc. ("Glenbriar") ...

VANCOUVER, British Columbia, March 01, 2018 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation ("Uniserve") announces that it has entered into agreements to sell all of its 112,366,804 common shares of Glenbriar Technologies Inc. ("Glenbriar") (representing approximately 86% of Glenbriar's outstanding common shares), to several arm's length purchasers, for cash consideration in a private, off-market transaction.  The transaction is expected to close on or before March 9, 2018.

Mr. Walter Schultz will be stepping down from the board of Glenbriar after the closing of the sale.  Uniserve intends to rely on the "sale from a control block" or "accredited investor" exemption to complete the sales.

Uniserve's decision to sell their shares of Glenbriar was based on the now completed reorganization of the company, its shift in the core business, and its plan to focus on new business opportunities.

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 30 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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