Uniserve Communications Corporation
TSX VENTURE : USS

February 28, 2012 15:30 ET

Uniserve Annual General Meeting Held. Management Reports on Growth Initiatives

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2012) - Uniserve Communications Corporation (TSX VENTURE:USS) (the "Company") is pleased to provide Management's report to shareholders following the AGM, held February 15, 2012.

All matters to be voted on by the shareholders were passed by an overwhelming majority and the Company's strategic plan for the upcoming year was presented to the Board of Directors and attending shareholders.

Recent Restructuring Activities Concluded

Management reported that a significant restructuring of various business units begun during 2010 and 2011 were concluded and that the company is now in a position to aggressively pursue growth in new core areas of business. Primary among these activities were the divestiture of non-core assets and the renegotiation of long term financial obligations.

The Company also instituted many cost saving measures, revenue improvements and product process enhancements. As a result the Company was able to realize a substantial increase in earnings during the most recent quarter and anticipates that revenues will continue to increase on a quarter by quarter basis due to adopted efficiency programs.

New Business Partnerships

The most significant result of the restructuring is that it allowed to Company to enter into partnerships with Joyent Inc. and Dell Computers to bring to market Cloud Computing solutions for the small to medium size business market in Canada. The Cloud computing market is expected to be worth over $148 Billion worldwide by 2014 and the Company is excited to be one of the first Canadian companies to enter the North American market with a true elastic computing solution.

Internal testing of the new Cloud Computing offerings were conducted and successfully completed over a three month period prior to launching the platform February 1st under the brand UniserveCloud.com. Several of the Company's clients have already adopted UniserveCloud computing solutions and a wider range of Cloud based products will be rolled out over the course of the year. These product options will include several "SaaS" (Software as a Service) and "PaaS" (Platform as a Service) offerings alongside the Company's current business solutions in broadband connectivity and telecommunications. With the addition of the UniserveCloud, the Company expects significant growth and will aid dramatically in achieving its goal of becoming Canada's leading provider of Integrated Cloud Computing and Telecommunications Convergence.

Data Centre

The Company is in a prime position to leverage its physical location adjacent to Vancouver's downtown business core by constructing a much needed Data Centre. Current demand for corporate Co-Location space outstrips supply and no new infrastructure build-out is anticipated. Uniserve has determined that it can accommodate this need and has constructed a Network Operations room as an initial stage of a planned and potential 20,000 square foot Data Centre to satisfy demand. Phase One of the Co-Location facility is anticipated to be 5,000 square feet and several existing clients have signed on to utilize the facility and associated value added services. The successful near-term completion of the Data Centre will enhance revenue and positively impact earnings.

Shareholder Relations

The company has also dedicated resources to improving shareholder communication and corporate relations activities to better serve investors, shareholders and other stakeholders. With an increased business profile within the financial community, Uniserve will be able to increase shareholder value over the long term and take advantage of appropriate opportunities as they arise.

As part of this initiative a revamp of the Company's website is underway and the establishment of a more comprehensive Investor Centre on the site will be launched before the end of the quarter. A new email investor enquiry address has been established and shareholders may contact the Investor Relations Department at invest@uniserve.com.

Uniserve Communications Corporation (TSX VENTURE:USS) is an industry leader in the integration and delivery of voice and data services over multiple IP networks directly or through wholesale partnerships to businesses and retail consumers throughout Canada. Learn more at www.uniserve.com or at www.sedar.com.

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

Michael Schmidt, CEO

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.

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 Corporation
    Investor & Corporate Relations
    604-395-3922
    invest@uniserve.com