2064818 Ontario Inc.

January 27, 2012 12:58 ET

Acquisition of Securities of Unique Broadband Systems, Inc.

TORONTO, ONTARIO--(Marketwire - Jan. 27, 2012) - Mr. Alex Dolgonos, the founder and original chief executive officer of Unique Broadband Systems, Inc. ("UBS" or the "Company") (TSX VENTURE:UBS) announced today that a corporation associated with him, 2064818 Ontario Inc., ("2064818") at 207 Arnold Avenue, Thornhill, Ontario, has increased its shareholding in UBS through a series of open market purchases on the TSX Venture Exchange between December 23, 2011 and January 27, 2012.

2064818 has acquired an aggregate of 2,493,000 UBS shares since December 23, 2011, bringing its holding of UBS shares to 14,398,255, representing approximately 14.01% of the total outstanding UBS shares. These UBS shares were purchased pursuant to the normal course purchase exemption of applicable Canadian securities laws, at prices ranging from $0.03 to $0.07 per share. An affiliate of 2064818 Ontario Inc. also associated with Mr. Dolgonos, 6138241 Canada Inc. ("6138241"), owns 8,500,000 UBS shares, representing approximately 8.27% of the total outstanding UBS shares. In aggregate, 2064818 and 6138241 now own 22,898,255 UBS shares, representing approximately 22.28% of the total outstanding UBS shares, and are the Company's largest shareholders. These corporations or their affiliates may purchase additional UBS shares in the market in accordance with applicable Canadian securities laws. Furthermore, 2064818 or another company also associated with Mr. Dolgonos intends to make a take-over bid for up to 10,000,000 UBS shares a price of $0.08, as announced in a press release from Mr. Dolgonos dated January 18, 2012.

Contact Information

  • Philip Koven
    (416) 579-6255