VANCOUVER, British Columbia, July 11, 2018 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (Uniserve) (TSX.V:USS) is pleased to announce that it has completed a $4.5 Million financing comprising an equity raise of $3,923,000 by way of a private placement, resulting in the issuance of 28,021,429 common shares at a price of $0.14 with 7,005,357 warrants priced at $0.16 per share for a nine month period, and 21,016,072 warrants priced at $0.20 per share for a two year period. The proceeds will be used for the Root Cellar Technologies acquisition as to $2,000,000 and the balance will be used for working capital. Pursuant to the equity raise, a finder’s fee is payable as to 4.4% of the total funds raised and the issuance of a total of 889,314 brokers’ warrants issuable as to 222,328 warrants at $0.16 per share for a nine month period, and 666,986 warrants priced at $0.20 per share for a two year period.
As part of this financing, the Company has agreed to a two year Debenture in the amount of $570,000 convertible at $0.17 per share in year one, and $0.20 in year two with interest at 9% per annum payable monthly.
Uniserve is a unified communications company in existence for 30 years, combining voice, data and media all into one seamless solution, one bill and one point of contact.
With 13,000 customers spread across Residential / Smart / and Enterprise businesses across Canada, Uniserve prides itself on world class customer services. When all else is equal, clients can trust Uniserve to have a great price, a pleasing experience and a company customers 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 Deanie Wong at 604-395-3953 or by email at Deanie.firstname.lastname@example.org.
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.