Uniserve Announces Update on 7,000,000 Unit Private Placement at $0.10 per Unit

Vancouver, British Columbia, CANADA

VANCOUVER, British Columbia, July 28, 2021 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (the “Company”) wishes to announce that it has received TSX Venture Exchange (“TSX”) approval to a thirty (30) day extension in time to file for final approval and closing of the subject placement which was announced June 8, 2021. The terms of the placement remain unchanged in that 7,000,000 Units have been offered at $0.10 per Unit with each Unit consisting of one common share and one transferrable share purchase warrant exercisable for a period of two years from the date of distribution on a 1:1 basis at $0.12 per share during year one, and $0.15 per share during year two. Total proceeds of $700,000 will be used for working capital. The placement is anticipated to close in the next thirty days with approximately fifty per cent (50%) being taken by management and insiders of the Company. No finder’s fees or commissions will be paid pursuant to this placement and it remains subject to final TSX approval.

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 Walker
President 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.