Glenbriar Completes Sale of IT Services Assets to Uniserve and Declares Dividend
19 January 2018 - 5:07AM
Glenbriar Technologies Inc. (CSE:GTI) (the “Company”) today
announced that further to its press releases dated November 3, 2017
and December 4, 2017, it has now completed the sale of its
information technology services business to Uniserve Communications
Corporation (TSX-V:USS) (“Uniserve”). The final purchase
price for the assets, after adjustments, was $1,782,492, of which
$245,984 was paid in cash and the balance paid by way of demand
promissory note.
The Company also wishes to announce that it has
declared a dividend of $0.0136 per share. The dividend is
payable to shareholders of record on January 23, 2018 and will be
paid on January 31, 2018. The portion of the dividend payable
to Uniserve will be satisfied by cancellation of the promissory
note referred to above.
For further information call:
Hashim Mitha, CEO, Glenbriar Technologies Inc. 604-395-3900
hashim.mitha@uniserve.com
The CSE has not reviewed and does not accept
responsibility for the adequacy and accuracy of this
information.
This news release may contain forward-looking
statements. These forward-looking statements do not guarantee
future events or performance and should not be relied upon. Actual
outcomes may differ materially due to any number of factors and
uncertainties, many of which are beyond Glenbriar’s control. Some
of these risks and uncertainties may be described in Glenbriar’s
corporate filings (posted at www.sedar.com. Glenbriar has no
intention or obligation to update or revise any forward-looking
statements due to new information or events.
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