October 13, 2016
Vancouver, BC: October 13, 2016 – Uniserve Communications Corporation (the “Company”) wishes to announce that Hashim Mitha, the current President and Chief Operating Officer, has been appointed interim Chief Executive Officer allowing John Dobson to focus his efforts on growing the Company`s enterprise consulting division.
The Company further wishes to announce that Mr. Salim Tharani, who agreed to join the Board of Directors as announced in the Company`s September 15, 2016 press release, will not be appointed to the Board at this time. Mr. Tharani will act as an advisor to the Board.
The Company further wishes to announce that it agreed to a private placement of 15,000,000 Units at $0.05 per Unit, 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 $0.05 per share during year one, and $0.06 per share during year two. The proceeds derived from the total 15,000,000 Unit placement will be used for working capital. A finder’s fee may payable in relation to this private placement and the same is subject to Exchange approval.
Uniserve Communications Corporation (TSX-V: USS) is a leader in the integration and delivery of voice and data services over multiple IP networks directly or through wholesale partnerships to businesses and retail consumers throughout Canada. In the B2B sector, Uniserve now offers services ranging from colocation data storage, automatic file backups, a managed service platform, firewalls, security systems, and guaranteed constant internet connectivity, all backed with 24/7 Vancouver based technical support. Learn more at www.uniserve.com or at www.sedar.com. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
Michael C. Scholz
Chairman of the Board
For more information please contact Investor & Corporate Relations at 604-395-3922 or email us at email@example.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.