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TMCNet:  Uniserve to buy Managed Services Company

[June 12, 2017]

Uniserve to buy Managed Services Company

VANCOUVER, B.C., June 12, 2017 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (TSX-V:USS.V) is pleased to announce it has entered into an agreement to purchase Xanity Cloud Solutions, a BC based managed service company. Ms. Sarah Morton, the CEO of Xanity, who has been in the IT Managed Services business for over 15 years, will be joining Uniserve as the head of Enterprise Managed Services and Data Centre Group. The closing will take place before the end of June.

A critical component of the purchase was also acquiring the Microsoft Azure Private Pack. As Uniserves VP of Technology, Gurmeet Jutla recently said:

By having our own Microsoft Azure Pack, hosted on the west coast of Canada, companies will now have the ability to run their primary workload in a private cloud while being able to augment spot resources in the public Azure cloud for the small durations required.  This is feasible and very advantageous for businesses, because the two clouds are very similar. Given the politics in the UK and issues around data sovereignty and security in the US- this makes eminent sense for the Canadian market.”

The Company further wishes to announce that it has agreed to a private placement of 4,000,000 Units at $0.10 per unit closing on or before June 30th 2017, 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 $0.10 per share during year one, or $0.11 per share during year two. The proceeds derived from the total 4,000,000 Unit placement will be used for working capital. There will be no fees payable in relation to this private placement.

The company also wishes to announce that all but 125,000 warrants of the the 12,353,000 warrants exercisable at $0.10 expiring June 10, 2017 were exercised. The CEO of Uniserve, Nicholas Jeffery said: “This is a significant validation of our ability to create a far reaching vision and implement it. It’s rare for a business trading at this level and early on in its growth strategy to have such a positive result with this amount of warrants 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.

Uniserve has 13,000 customers spread across Residential / Small Office / Home office and Enterprise, so where ever you are trying to make smart, secure and resilient – we can help you.

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.


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