Uniserve Completes $4.5 Million Financing
12 July 2018 - 3:46AM
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.
About Uniserve
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.wong@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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