Unique Broadband Systems, Inc. Announces Sale of Half of Its Look Shares

On January 14, 2013, Unique Broadband Systems, Inc. ("UBS") (TSX VENTURE:UBS)
announced its agreement to sell (the "Sales Transaction") 12,430,000 multiple
voting shares and 14,630,000 subordinate voting shares of Look Communications
Inc. ("Look") to 2092390 Ontario Inc., subject to approval of the Ontario
Superior Court of Justice (the "Court"). The Sales Transaction is the result of
a Court approved sale process pursuant to which UBS sought offers for the
purchase of all or part of the interest in Look that UBS holds indirectly
through its wholly-owned subsidiary, UBS Wireless Services Inc. The sales
process was run by Duff & Phelps Canada Restructuring Inc. (the "Monitor") in
its capacity as monitor of UBS under the Companies Creditors' Arrangement Act. 


Approval of the Sales Transaction was granted by the Court on Friday, February
15, 2013 and the Sales Transaction closed on February 19, 2013 for gross
proceeds of $3,788,400 (representing a purchase price of $0.14 per share). UBS
now indirectly owns 12,434,478 multiple voting shares and 15,291,308 subordinate
voting shares, representing a 19.8% economic interest and 18.8% voting interest
in Look. 


The Sales Transaction was opposed by Niketo Co. Ltd. ("Niketo"), a creditor of
UBS who announced on January 7, 2013 its purchase from corporations associated
with Mr. Alex Dolgonos of approximately 11% of UBS' outstanding shares and its
agreement to acquire an additional 8.5 million UBS shares (in a transaction that
Niketo announced was intended to close on or before January 8, 2013 and which,
once closed, would increase Niketo's ownership interest in UBS to approximately
19.3%). Niketo is a wholly-owned subsidiary of NWT Uranium Corp., a company
listed on the TSX Venture Exchange. Over the past few weeks, Niketo has brought
two separate motions seeking Court approval of two different plans of compromise
or arrangement in lieu of the Court's approval of the Sales Transaction.
Niketo's motions were opposed by UBS and the Monitor. The Court denied both
motions. Niketo also sought an order from the Court of Appeal for Ontario
staying the effect of the Sales Transaction approval order. On February 19,
2013, the Court of Appeal denied the request for a stay. 


Niketo's motion materials, UBS' responding materials and the Monitor's reports
related thereto are available on the Monitor's website at www.duffandphelps.com.
 


UBS further announces that the trial to determine the disputed claims asserted
against UBS by Mr. Gerald McGoey and Jolian Investments Ltd. commenced today in
the Ontario Superior Court of Justice.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Unique Broadband Systems, Inc.
Grant McCutcheon
CEO
[phone]