Uniserve Communications Corporation

Uniserve Communications Corporation

March 23, 2015 11:21 ET

Uniserve Communications Completes Share Consolidation; Successful Debt Reduction and Product Development Continues

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 23, 2015) - Uniserve Communications Corporation (the "Company" or "Uniserve") (TSX VENTURE:USS) announces that it has completed the previously announced share consolidation of five (5) pre-consolidation common shares for one (1) post-consolidation share. The consolidation was approved by the shareholders of Uniserve Communications Corporation at a Special Shareholder's Meeting held on February 24th, 2015 and became effective at the open of the market on March 23, 2015 (the "Effective Date").

Prior to the Effective Date, Uniserve had 65,437,809 shares issued and outstanding. As at the Effective Date there are 13,087,562 shares issued and outstanding. Uniserve did not change its name or its trading symbol as part of the consolidation, but will issue new share certificates under a new CUSIP number, which is 909172306, and the Company's shares will continue to trade on the TSX Venture Exchange under the symbol "USS". Registered shareholders may surrender their old share certificates in order to receive new share certificates, which will be handled by Brokerage firms on behalf of shareholders' accounts. Uniserve has a significant number of small shareholders who hold less than 99 post-consolidation shares. These small shareholders must communicate directly with the Company, or its transfer agent, Computershare Investor Services Inc. should they wish to receive a new share certificate.

The share consolidation is an integral component of Uniserve's on-going and successful efforts to eradicate and reduce debt while investing in, and developing, new products and services in order to increase revenue, earnings and profitability.

The Company also wishes to address a recent news release put out by Urban Communications Inc. which mentions former Uniserve employee Tom Samplonius; Mr. Samplonius was not instrumental in facilitating subscriber growth during his tenure at Uniserve, which ended in February 2011.

Uniserve Communications Corporation (TSX VENTURE:USS) is an industry leader in the integration and delivery of voice, data and cloud computing services to businesses and retail consumers throughout Canada. For more information about Uniserve, its products and services please visit www.uniserve.com.

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

Michael C. Scholz, Chairman

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