Unique Broadband Systems, Inc.

Unique Broadband Systems, Inc.

November 04, 2013 08:51 ET

Leave for Appeal Granted in Respect of UBS Disputed Claims

TORONTO, ONTARIO--(Marketwired - Nov. 4, 2013) - Further to its press release dated May 22, 2013 where it was announced that certain, but not all, of the claims of Jolian Investments Limited ("Jolian") and Mr. Gerald McGoey were disallowed in connection with the Company's ongoing CCAA proceedings, Unique Broadband Systems, Inc. ("UBS" or the "Company") (TSX VENTURE:UBS) is pleased to announce that the Honourable Mr. Justice Doherty of the Ontario Court of Appeal released an Endorsement dated October 31, 2013, granting leave to the Company to appeal the Judgment of the Honourable Madam Justice Mesbur in which she found that Jolian was entitled to an "enhanced severance" payment as a result of the termination of its contract with UBS.

The Company is proceeding with filing the required notice of appeal and perfecting the appeal.

A copy of the Endorsement will be made available shortly on the monitor's website www.duffandphelps.com/restructuringcases under the UBS link.

About Unique Broadband Systems, Inc.

UBS's shares are listed on the TSX Venture Exchange under the symbols "UBS". More information on UBS can be found at www.sedar.com.

The corporate information contained in this release includes forward-looking statements regarding future events and costs that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by UBS at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by UBS that actual results achieved will be the same in whole or in part as those forecast.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Unique Broadband Systems, Inc.
    Grant McCutcheon
    (905) 660-8100