Uniserve completes agreed purchase of additional 20% of Glenbriar Technologies shares

VANCOUVER, British Columbia, Aug. 08, 2017 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (Uniserve) is pleased to announce the TSX Exchange approval and closing on Uniserve's proposed agreement with the five principals and directors of Glenbriar Technologies to acquire an additional 20% of the issued and outstanding shares of Glenbriar Technologies.

Uniserve has exchanged 2,148,450 (post consolidation) Uniserve shares for an additional 26,855,804 Glenbriar shares formerly held by the directors of Glenbriar. With the closing of this transaction, Uniserve now owns 106,855,804 shares of a total of 130,421,510 or 81.9% of the issued and outstanding shares of Glenbriar. Also after this closing, Uniserve's total of issued and outstanding shares will be 38,539,687. 

The Glenbriar BC operational team, currently located in Burnaby, will be moving to the Uniserve offices at the end of September.

As Uniserve's CEO Nicholas Jeffery stated, "With our recent investment in Glenbriar, Uniserve has dramatically strengthened its managed service capability and extended its Canadian footprint with offices now in Calgary and Waterloo.

Glenbriar customers will benefit from a larger focused customer support structure based in Vancouver as well as a T2 data centre in the same city, and a T3 facility on the east coast along with a cross country network. 

Universe's existing customers and prospects will benefit from a 20 plus strong managed services team, increased IP telephone capability and a dedicated 'software as a service' team based In Waterloo."

About Uniserve

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.

Uniserve has 13,000 customers spread across Residential / Small Office / Home office and Enterprise, so where ever you are trying to make smart, secure and resilient - we can help you.

Uniserve prides itself on world class customer services, when all else is equal you can trust Uniserve to have a great price, a world class customer experience and a company you trust and like working with.

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

Learn more at www.uniserve.com or at www.sedar.com.

Michael C. Scholz 
Chairman of the Board

For more information please contact Mr. Mark Stanton at 604-395-3908 or email us at [e-mail].

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.

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Source: UNISERVE COMMUNICATIONS CORPORATION via Globenewswire