VANCOUVER, British Columbia, Feb. 1, 2006 (PRIMEZONE) -- Uniserve Communications Corporation (Uniserve) (TSX-V:USS), one of western Canada's largest independent communications companies, announced today that it has closed the acquisition of Inter.net Canada Ltd., from NACO US LP, of Reston, Virginia. Inter.net Canada Ltd. is expected to fiscally contribute revenues and adjusted EBITDA of $8,400,000 and $1,500,000 respectively to Uniserve.
Uniserve has issued 4,600,000 Units to the vendor, with each Unit consisting of one common share and one-half share purchase warrant. Each whole warrant is exercisable for up to 23 months at $0.65 per share. Uniserve has also made a cash payment of $1,750,000 to the vendor and is obligated to pay up to an additional $1,250,000 within 120 days, subject to adjustments based on Inter.net Canada's financial performance.
The new Uniserve group of companies will have a strong presence across Canada with over 150 employees supporting offices in British Columbia, Alberta and Quebec. Uniserve will have significant customer segments in high speed Internet access on multiple broadband networks across Canada, delivering connectivity, Voice over IP (VoIP), traditional long distance, fax-to-email and Web hosting services. The national customer base will be supported by award winning multi-lingual service centers located in Vancouver, Edmonton and Montreal.
"Uniserve's acquisition of Inter.net Canada is part of our strategy to link together the high speed telephone, cable and wireless networks across Canada, and deliver an exciting mix of new Internet-based technology services to Canadian consumers and small businesses," said William Spratt, president and CEO of Uniserve.
With this acquisition, Uniserve is expected to generate annual revenues exceeding $24 million and serve over 110,000 customers coast-to-coast. "This is a tremendous opportunity for both companies as we share the same vision of future growth; a vision of lifting innovation and convergence to new heights in our industry and a commitment to best-in-class customer service," says Sophie Leger, president of Inter.net and the new COO of Uniserve.
"Today, we are a consolidated full-service national communications company with over 110,000 customers, bringing solutions together in new and exciting ways," says Spratt.
Uniserve is a publicly traded company listed on the Canadian TSX.V exchange under the trading symbol 'USS'.
About Uniserve Communications Corporation
One of Canada's largest independent communications companies, Uniserve Communications Corporation delivers voice and data communications services to 110,000 businesses and consumers in urban and rural markets across Canada, offering scalable solutions including high speed Internet, Web hosting, long distance, fax-to-email and an award-winning call centre. Uniserve is an industry leader in the integration of voice and data services over multiple IP networks including cable, ADSL and wireless broadband. To service these networks, Uniserve has developed a proprietary ordering and provisioning system that allows customers to dynamically customize their own services, test new technologies and receive support through Web portals.
For more information about Uniserve, please visit www.uniserve.com, and to learn more about Inter.net Canada, please visit www.ca.inter.net. Additional corporate and financial information may be found at www.sedar.com.
For more information or to coordinate an interview with representatives of Uniserve Communications Corporation or Inter.net Canada, please contact:
Uniserve Communications Communications MECA John Vickerstaff Julie Lepsetz Vice President Marketing (514) 288-8500 x 233 & Consumer Services (888) 764-MECA (6322) (604) 926-7199 jlepsetz@meca.ca jvickerstaff@uniserve.com