TORONTO, ONTARIO--(Marketwired - April 1, 2016) - Unique Broadband Systems, Inc. ("UBS" or the "Company") (NEX:UBS.H) today announced that its previously announced rights offering (the "Rights Offering") has been fully subscribed and is closed.
Details of the Rights Offering are as follows:
- The aggregate gross proceeds from the Rights Offering was $503,967.36.
- Pursuant to the basic subscription privilege under the Rights Offering, 27,368,867 common shares of UBS ("Common Shares") have been distributed.
- Pursuant to the additional subscription privilege under the Rights Offering, 23,027,869 Common Shares have been distributed.
- No Common Shares were issued under any stand-by commitment.
- 153,144,590 Common Shares were issued and outstanding as of the closing date.
- No fees or commissions were paid in connection with the Rights Offering.
UBS will announce information with respect to the breakdown of distributions under the basic subscription privilege and additional subscription privilege to insiders before the distributions under the Rights Offering, or persons who became insiders as a result of the distributions under the Rights Offering, when that information becomes available to UBS, after reasonable inquiry.
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.