Uniserve Announces Update on Private Placement of $0.07 Per Unit
March 15 2012 - 2:27PM
Marketwired
UNISERVE COMMUNICATIONS CORP. (TSX VENTURE:USS) (the "Company"),
announces that further to its news release of February 7, 2012
announcing a private placement of up to 7,000,000 units of the
Company (the "Units") at $0.07 per Unit (the "Offering"), the
Company has revised the terms of the warrants to be issued as part
of each Unit. Each Unit consists of one common share in the capital
of the Company and half of a share purchase warrant. (the
"Warrants"). The Warrants will expire 12 months after closing of
the Offering and the exercise price remains at $0.10 per share.
The Company will pay to certain eligible finders as finders'
fees an amount of up to 8% of the gross proceeds to be raised under
the Offering, in addition to Finder's Warrants to be issued to
certain eligible finders as disclosed in the Company's news release
of February 7, 2012.
The Offering and the payment of finder's fees are subject to all
necessary regulatory approvals, including the approval of the TSX
Venture Exchange. The securities to be issued in the Offering will
be subject to a four-month hold period in accordance with
applicable Canadian securities laws.
The securities referred to in this news release have not been,
nor will they be, registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S.
registration requirements. This news release does not constitute an
offer for sale of securities for sale, nor a solicitation for
offers to buy any securities. Any public offering of securities in
the United States must be made by means of a prospectus containing
detailed information about the company and management, as well as
financial statements.
About Uniserve Communications Corporation
Uniserve Communications Corporation (TSX VENTURE:USS) is an
industry 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.
ON BEHALF OF THE BOARD
Michael Schmidt, CEO
Except for historical information contained herein, this news
release contains forward-looking statements that involve risks and
uncertainties. Actual results may differ materially. Except as
required pursuant to applicable securities laws, the Company will
not update these forward-looking statements to reflect events or
circumstances after the date hereof. More detailed information
about potential factors that could affect financial results is
included in the documents filed from time to time with the Canadian
securities regulatory authorities by the Company.
Neither 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.
Contacts: Uniserve Communications Corporation Michael Schmidt
CEO 604.395.3911