VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 04/22/13 — Uniserve Communications Corporation (TSX VENTURE: USS) (the “Company”) wishes to announce that it has entered into a Convertible Debenture for $1,000,000 for a one year term expiring April 30, 2014 with interest at 15% per annum (the “Debenture”), subject to regulatory approval. Pursuant to the Debenture, the interest will be paid monthly commencing May 30, 2013, and the Holder may advance funds in tranches, with the initial advance of $100,000 already been received. Interest shall accrue in respect of each tranche from the date of its advance. The Debenture is convertible in whole or in part of the principal into 10,000,000 Units at $0.10 per Unit, comprised of one fully paid and non-assessable common share of the Company and a two year warrant exercisable at $0.125 per share during year one and $0.15 per share for a further period of one year. The funds derived from this transaction will be used for general working capital.
In addition, the Company wishes to announce the resignations of Messrs. John Vickerstaff and Aziz Pirani from the Board. The Company would like to recognize and thank Mr. Vickerstaff for his contributions to the Company in the past and advise that Mr. Pirani has agreed to stay on in an advisory position. With the resignations of Messrs. Vickerstaff and Pirani, the Board is pleased to announce the appointment of Messrs. Dan Nou and Stephen Plant as Directors.
Uniserve Communications Corporation (TSX VENTURE: USS) is an industry leader in the integration and delivery of voice, data and cloud computing services to businesses and retail consumers throughout Canada. For more information about Uniserve, its products and services please visit or .
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
Bruce Sanderson, President
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.
Contacts:
Uniserve Communications Corporation
Investor & Corporate Relations
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