VANCOUVER, B.C., June 29, 2017 (GLOBE NEWSWIRE) — Uniserve Communications Corporation (“Uniserve”) wishes to announce that it will be proceeding with a rollback of its issued and outstanding common shares on a 2 and one-half (2.5) old for one (1) new basis effective at the opening of the market on Friday, June 30, 2017 wherein the total 89,878,385 issued and outstanding shares of Uniserve will become 35,951,237 with adjustment due to fractional rounding of 117, on a post-consolidated basis. The 89,878,385 issued and outstanding on a pre-consolidated basis includes the issuance of 6,000,000 common shares pursuant to Uniserve’s 6,000,000 Unit private placement at $0.10 per Unit, as announced pursuant to Uniserve’s press release dated June 12, 2017, the terms of which being revised by releases dated June 16, 2017 and June 26, 2017, which placement received TSX Venture Exchange approval by letter dated June 28, 2017.
Uniserve received Shareholder approval to a consolidation at its Annual General Meeting held November 26, 2015, where, at that time, Shareholders granted authorization to the Board of Directors of Uniserve, at their discretion, the right to consolidate its shares as they deemed fit and upon receipt of TSX Venture Exchange approval, which was received June 1, 2017.
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 storage, disaster recovery firewalls, application hosting and a redundant resilient network, all backed by 24/7 local technical support.
Michael C. Scholz
Chairman of the Board
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.
CONTACT: For more information please contact Mr. Mark Stanton at 604-395-3908 or email us at [email protected]