Unique Broadband Systems, Inc. Announces Results of Special Meeting of Shareholders; New Directors Elected

TORONTO, ONTARIO--(Marketwired - May 5, 2015) -

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Unique Broadband Systems, Inc. (TSX VENTURE:UBS.H) ("UBS" or the "Company") is pleased to announce that, at the Special Meeting of Shareholders of UBS held on May 4, 2015 (the "Meeting"), shareholders of the Company elected a new board of directors. The newly elected directors are Henry Kloepper, Daniel Marks, and Riadh Zine.

The Meeting was called by the Company pursuant to an Order of the Ontario Superior Court made on February 26, 2015, to facilitate the Company's orderly exit from the Companies' Creditors Arrangement Act ("CCAA"). At the Meeting, shareholders of UBS were asked to decide between two separate slates of proposed directors, each nominated by a shareholder of UBS. The new board is comprised of nominees of Alex Dolgonos, an individual who is the beneficial holder of 11.93% of the total issued and outstanding common shares of UBS.

The new board members replace Victor Wells, Kenneth Taylor and Robert Morrison. The Company would like to thank Messrs. Wells, Taylor and Morrison for their service as directors of the Company.

Following the meeting, the new board of directors appointed Daniel Marks as the interim Chief Executive Officer of UBS, and Henry Kloepper as the new Chief Financial Officer.

In addition to the election of the new board of directors, the shareholders of the Company also voted to reject the proposal to consolidate the outstanding common shares of the Company.

The new board of directors looks forward to leading UBS and working to provide value to shareholders as the Company emerges from the CCAA process.

About Unique Broadband Systems, Inc.

UBS' shares are listed on the NEX under the symbol "UBS.H". More information on UBS can be found at www.sedar.com. The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of UBS that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by UBS at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by UBS that actual results achieved will be the same in whole or in part as those forecast. Neither the NEX nor its Regulation Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.