VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 29, 2014) - Uniserve Communications Corporation (TSX VENTURE:USS) (the "Company") wishes to provide an update to the information set out in its Press Release dated March 4, 2014 and is pleased to announce that it has received TSX Stock Exchange ("TSX") approval to its Convertible Debenture bearing interest at 15% per annum which may be repaid by the issuance of shares of the Company at $0.05 per share during year one, and $0.075 per share during year two.
The Company further wishes to advise that the $0.05 Unit private placement forming part of the $1,000,000 financing announced March 4, 2014, is now being offered at a total of 6,000,000 Units, reduced from its initial 10,000,000 Unit offering. The remaining terms of the offer remain unchanged in that the Units are offered at $0.05 per Unit with each Unit comprised of one common share and one transferrable share purchase warrant with every two warrants surrendered entitling the holder to purchase one additional common share of the Company for a one year period at $0.05 per share. The proceeds derived from this financing remain for the intended use of general corporate and development purposes. This transaction remains subject to TSX Venture Exchange approval.
Uniserve Communications Corporation (TSX VENTURE:USS) is a 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.
Joseph Willmott, President & CEO
Neither TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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.