Uniserve to Purchase Data Management IT Company
Uniserve’s CEO Nicholas Jeffery stated: “With the acquisition of RootCellar, Uniserve will continue to drive its revenues, its enterprise mix of business and strengthen the partner alliances across Canada. RootCellar will integrate into Uniserve’s existing business in Kitchener and will gain the opportunity to work with a very experienced managed services technology and sales solutions team.”
The transaction is subject to TSXV approval and is expected to close on or before June 30, 2018. The transaction is an arm’s length transaction.
Uniserve’s funding for the purchase will be through a private placement of 25,000,000 Units at $0.14 per Unit, each Unit consisting of one common share and one transferable share purchase warrant. One warrant will be exercisable for one additional common share at $0.16 per share as to one-quarter of the warrants being issued, for a nine-month period, and the remaining three-quarters being issued at $0.20 per share for a two-year period. Directors of the Company are committed to participate in approximately 60% of the units being offered pursuant to this placement. $2M of the proceeds from the private placement will be used for the acquisition of RootCellar and $1.5M for general working capital purposes. A finder’s fee may be payable in relation to this private placement and the same is subject to regulatory approval. The financing is subject to TSXV approval and all securities will be subject to a four month hold period.
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. The unique selling proposition of the business is “SMART” People, Solutions, and Technology with over 13,000 customers spread across residential and enterprise centered around Vancouver, Calgary and Kitchener-Waterloo.
Uniserve prides itself on world class customer service based in Canada. When all else is equal, clients can trust Uniserve to have a great price, a great experience and to be a company that customers enjoy working with – we call it “ONE click, call, connect”.
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 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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