Uniserve Announces Restructured Debt And Anticipated Closing Of Private Placement
August 26 2021 - 6:52PM
Uniserve Communications Corporation (TSX-V: USS)
(the “Company”) wishes to announce it has amended the terms of its
$570,000 Debenture (original principal amount of the Debenture).
The amendment reduces the principal amount outstanding to $400,000,
reduces the interest rate charged to 6%, with interest payable
monthly, and extends the term for an additional two years. The
Debenture can be converted into shares at $0.15 per share to the
date of maturity.
Further, the Company announces that it has
reduced the interest rate on a $500,000 Note from 9% to 6% per
annum and has reduced the interest rate on $300,000 of Notes from
3.5% to 3% per annum.
The Company further announces that it is
proceeding with its 7,000,000 Unit private placement, offered at
$0.10 per Unit, as announced in its June 8, 2021 and July 28, 2021
Press Releases, and anticipates closing within the next two weeks,
subject to TSX Venture Exchange approval. The terms of the
placement remain unchanged as announced July 28, 2021.
About Uniserve
Uniserve Communications Corporation is a 2018
TSX Venture top 50 performance company.
Uniserve is a unified communications company
which has been in business for 30 years, combining voice, data and
media services all into one seamless solution, one bill and one
point of contact.
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.
Kelly WalkerPresident and
CEO
For more information please call 604-395-3961 or
email corporate.relations@uniserveteam.com.
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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