VANCOUVER, B.C., June 12, 2017 (GLOBE NEWSWIRE) --
Uniserve Communications Corporation (TSX-V:USS.V) is pleased to
announce it has entered into an agreement to purchase Xanity Cloud
Solutions, a BC based managed service company. Ms. Sarah Morton,
the CEO of Xanity, who has been in the IT Managed Services business
for over 15 years, will be joining Uniserve as the head of
Enterprise Managed Services and Data Centre Group. The closing will
take place before the end of June.
A critical component of the purchase was also
acquiring the Microsoft Azure Private Pack. As Uniserves VP of
Technology, Gurmeet Jutla recently said:
"By having our own Microsoft
Azure Pack, hosted on the west coast of Canada, companies will now
have the ability to run their primary workload in a private cloud
while being able to augment spot resources in the public Azure
cloud for the small durations required. This is feasible and
very advantageous for businesses, because the two clouds are very
similar. Given the politics in the UK and issues around data
sovereignty and security in the US- this makes eminent sense for
the Canadian market."
The Company further wishes to announce that it has
agreed to a private placement of 4,000,000 Units at $0.10 per unit
closing on or before June 30th2017, each unit consisting of one
common share and one transferable 2 year share purchase warrant.
One warrant will be exercisable for one additional common share at
$0.10 per share during year one, or $0.11 per share during year
two. The proceeds derived from the total 4,000,000 Unit placement
will be used for working capital. There will be no fees payable in
relation to this private placement.
The company also wishes to announce that all but
125,000 warrants of the the 12,353,000 warrants exercisable at
$0.10 expiring June 10, 2017 were exercised. The CEO of Uniserve,
Nicholas Jeffery said: "This is a significant
validation of our ability to create a far reaching vision and
implement it. It's rare for a business trading at this level and
early on in its growth strategy to have such a positive result with
this amount of warrants exercised."
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.