Uniserve Completes Purchase of IT Services Assets from Glenbriar
January 18 2018 - 9:30AM
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.
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