Science & Technology
Science and Technology
Science and Technology
Wed, February 8, 2012
Tue, February 7, 2012 
February 07, 2012 13:07 ET
Uniserve to Raise $490,000 With Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2012) - Uniserve Communications Corp. (TSX VENTURE:USS) (the "Company") announces that it has arranged, subject to regulatory approval, a non-brokered private placement (the "Private Placement") of up to 7,000,000 units of the Company at $0.07 per unit. Each unit consists of one common share in the capital of the Company and half a share purchase warrant (a "Warrant"). Each full Warrant will be exercisable into an additional common share of the Company at a price of $0.10 per share for a period of six months.
In connection with the Private Placement, the Company will issue to certain eligible finders as finders' fees a number of non-transferable finder's warrants (the "Finder's Warrants") of up to the maximum allowable for the Private Placement, subject to regulatory approval. Each Finder's Warrant entitles the holder thereof to purchase one common share in the capital of the Company at a price of $0.10 per share for a period of 6 months from the date of issuance.
The Company plans to use these funds for general working capital requirement as it continues its expansion in to the Cloud Computing market.
Uniserve Communications Corporation (TSX VENTURE:USS) is an industry leader in the integration and delivery of voice and data services over multiple IP networks directly or through wholesale partnerships to businesses and retail consumers throughout Canada. Learn more at [ www.uniserve.com ] or at [ www.sedar.com ].
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
Michael Schmidt, CEO
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release.
