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UBS

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Share Name Share Symbol Market Type
TSXV:UBS TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Update Regarding Appeal of UBS Disputed Claims

06/05/2014 10:00pm

Marketwired Canada


In its press releases dated May 22, 2013 and November 4, 2013, Unique Broadband
Systems, Inc. ("UBS" or the "Company") (TSX VENTURE:UBS) previously announced
that (i) certain, but not all, of the claims of Jolian Investments Limited
("Jolian") and Mr. Gerald McGoey were disallowed in connection with the
Company's ongoing CCAA proceedings, and (ii) UBS was granted leave to appeal the
Judgment of the Honourable Madam Justice Mesbur in which she found that,
pursuant to its services agreement with UBS, Jolian was entitled to an enhanced
severance as a result of the termination of its contract with UBS. 


The Jolian parties subsequently brought a cross-appeal in respect of the
decision of the Honourable Madam Justice Mesbur to disallow the Jolian parties'
claims for: (1) payment in respect of the cancellation of the Company's share
appreciation rights plan; (2) payment of a deferred bonus; and (3)
indemnification in addition to ordering that the Jolian parties repay all monies
previously advanced to them in the nature of indemnification.


The appeal and cross-appeal are scheduled to be heard on June 17, 2014.
Shareholders are encouraged to refer to the section entitled "Provisions and
contingencies - Contingencies - Jolian claims" in the Company's most recent
MD&A.


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.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Unique Broadband Systems, Inc.
Grant McCutcheon
CEO
(905) 660-8100

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