Glenbriar Completes Sale of IT Services Assets to Uniserve and Declares Dividend
VANCOUVER, British Columbia, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Glenbriar Technologies Inc. (CSE:GTI) (the “Company”) today announced that further to its press releases dated November 3, 2017 and December 4, 2017, it has now completed the sale of its information technology services business to Uniserve Communications Corporation (TSX-V:USS) (“Uniserve”). The final purchase price for the assets, after adjustments, was $1,782,492, of which $245,984 was paid in cash and the balance paid by way of demand promissory note.
The Company also wishes to announce that it has declared a dividend of $0.0136 per share. The dividend is payable to shareholders of record on January 23, 2018 and will be paid on January 31, 2018. The portion of the dividend payable to Uniserve will be satisfied by cancellation of the promissory note referred to above.
For further information call:
Hashim Mitha, CEO, Glenbriar Technologies Inc.
604-395-3900
hashim.mitha@uniserve.com