European data centre heavy-weight joins Uniserve board
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, Jan. 19, 2017 (GLOBE NEWSWIRE) -- Uniserve
Communications Corporation (the "Company") wishes to announce that at the Annual
General Meeting scheduled for January 19, 2017, each of Messrs. Nicholas
Jeffery, Hashim Mitha, Earnest C. Beaudin, Michael C. Scholz, Walter Schultz,
Kelly Walker and Thorsten Gutsche will stand for election to act as Directors of
the Company as approved by its Shareholders for the ensuing year. Mr. Albert
Lim, the former Interim Chief Financial Officer of the Company, will not stand
for relection as a Director. At this time, the Company wishes to thank Mr. Lim
for his contribution to the Company since his joining the Board in July of
2014, and wishes him every success in his future endeavours.
The new addition to the Board is Mr. Nicholas Jeffery who currently resides in
London, England. Mr. Jeffery is currently the Director of Data Centre Solutions
CBRE and is responsible for client NPD and migration strategies as well as Smart
City Solutions. Mr. Jeffery was also the former Managing Director of PSINet
Europe and part of the executive team that took the business from a circa $30m
loss to $15m profit in two years. PSINet was acquired for $15m out of chapter
11 and was sold for $150m two years later to Telstra and Interroute.
The Company further wishes to announce the closing of its 35,000,000 Unit
private placement at $0.05 per Unit, originally announced in its October
13, 2016 press release, the terms of which were revised pursuant to its December
19, 2016 press release. The Company further announces that it will issue the
35,000,000 Units, with each Unit consisting of one common share and one
transferrable share purchase warrant, with each warrant exercisable into one
additional common share of the Company at $0.05 per share during year one, and
$0.06 per share during year two to the date of expiry, being January 23, 2019
(the "Units") in the next few days. The proceeds derived from the 35,000,000
Unit placement will be used to satisfy the settlements disclosed in the
Company's December 7, 2016 Press Release and the balance for working capital. A
finder's fee is payable pursuant to this placement by way of 5% cash and a
broker's warrant equal to 8% of the total raised by the finder of $9,250 in cash
and 296,000 in broker's warrants issued on the same terms and conditions as the
Units. In addition, a finder's fee will be paid to a finder of warrants only
being equal to 12.5% of the total raised by that finder, of 1,037,500 warrants
issued on the same terms and conditions as the Units.
In addition, the Company wishes to announce that the terms of the repricing of
the 6,500,000 Warrants expiring December 2, 2017, as announced in its December
19, 2016 press release, have been further revised in that the price of the
Warrants will be reduced to $0.07 per share from $0.10 and the term of exercise
extended from December 2, 2017 to March 31, 2018, subject to receipt of TSX
Venture Exchange approval. The Company confirms that the reduction in the
exercise price is to better reflect the Company's current market price and that
as permitted by the TSX, the number of Warrants, as amended, to be exercised by
insiders is limited to no more than 10% of the total held by insiders,
distributed pro rata among those insiders holding warrants.
ABOUT UNISERVE
Uniserve Communications Corporation (TSX-V:USS) is a leader in the integration
and delivery of voice and data services over multiple IP networks directly and
through wholesale partnerships to businesses and retail consumers throughout
western Canada.
Uniserve currently has over 13,000 active business, residential and wholesale
customers combined, providing over 45,000 active services.
Uniserve offers a comprehensive portfolio of managed services ranging from data
storage, disaster recovery, firewalls, application hosting and a redundant
resilient network, all backed by 24/7 technical support.
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(at)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
Unternehmensinformation / Kurzprofil:
Datum: 19.01.2017 - 19:00 Uhr
Sprache: Deutsch
News-ID 518796
Anzahl Zeichen: 6064
contact information:
Town:
Vancouver, BC
Kategorie:
Business News
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"European data centre heavy-weight joins Uniserve board"
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