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.
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, 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.
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.