Mr. Michael Scholz of Uniserve reports
UNISERVE PURCHASES AN ADDITIONAL 4% OF GLENBRIAR SHARES
Uniserve Communications Corp. has purchased an additional five million shares of Glenbriar Technologies Inc., taking Uniserve's holdings to approximately 86 per cent of Glenbriar. The Vancouver office of Glenbriar has been merged into Uniserve's Vancouver office and all operations in Glenbriar's Calgary and Waterloo offices are being streamlined under the Uniserve umbrella. It is anticipated this will be completed by year-end.
Uniserve is pleased to announce $420,000 of convertible debt has been shifted to equity, resulting in the issue of approximately 2.2 million shares. Also, the balance of 656,000 warrants, expiring in September, 2017, have been exercised in full at 37.5 cents.
Uniserve has also negotiated a one-year $700,000 loan with interest at 3.5 per cent per annum and have used part of the proceeds to retire a $470,000 debt with interest chargeable at a higher rate.
Of the 2.6 million warrants exercisable at 17.5 cents and expiring March 31, 2018, approximately 80 per cent have already been exercised.
About Uniserve Communications Corp.
Uniserve is a unified communications company which has been in existence for over 28 years, combining voice, data and media all into one seamless solution, one bill, and one point of contact in Canada, spread across 13,000 customers serving the residential/small office/home office and enterprise markets.
Uniserve prides itself on world-class customer service. When all else is equal you can trust Uniserve to have a great price, a world-class customer experience and to be a company you trust and like working with.
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