November 20, 2008 16:47 ET

Uniserve Communications Corporation Revocation of Cease Trade Orders

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2008) - Uniserve Communications Corporation (TSX VENTURE:USS) ("Uniserve" or the "Company") issued a news release on October 8, 2008 announcing a delay in filing of its annual financial statements due to the Company's finance department being engaged in the extensive due diligence process required for the sale of Parasun during the period that the annual audit was to have been completed, and due to the recent change in auditors. As a result of this delay, the Company was cease traded by the British Columbia Securities Commission on October 7, 2008 and by the Ontario Securities Commission on October 8, 2008 for failure to file its annual financial statements for the year ended May 31, 2008 and the related management's discussion and analysis. The Company has also been suspended in trading by the TSX Venture Exchange on October 7, 2008 until revocation of the cease trade orders. The Company is pleased to announce that the Directors have taken all required actions to bring the Company continuous disclosure filings up-to-date and to have its shares reinstated for trading on the TSX Venture Exchange. All financial statements have now been completed and filed on www.sedar.com. The cease trade orders of both the British Columbia Securities Commission and Ontario Securities Commission were revoked on November 5, 2008 and November 19, 2008, respectively. The Company expects to have its shares reinstated in trading by the TSX Venture Exchange shortly.

About Uniserve Communications Corporation

Uniserve Communications is an industry leader in the integration and delivery of voice and data services over multiple IP networks directly or through wholesale partnerships to small businesses and retail consumers throughout Canada. Uniserve is a publicly traded company listed on the Canadian TSX Venture Exchange under the trading symbol "USS".

For more information about Uniserve, its products and services please visit www.uniserve.com or www.kinzin.com.

Additional corporate and financial information may be found at www.sedar.com.

This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.

On Behalf of the Board,

William Spratt, President and CEO

This release has been prepared by management 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release.

Contact Information

  • Uniserve Communications
    William Spratt
    President and CEO
    (604) 395-3900
    Website: www.uniserve.com