VANCOUVER, British Columbia, June 05, 2018 (GLOBE NEWSWIRE) -- Uniserve Communications
Corporation (TSX.V:USS) (Uniserve) is pleased to announce that is has entered into a definitive
agreement with RootCellar Technologies Corporation (RootCellar) to purchase the assets of RootCellar, a
Managed Service Provider (MSP) based in southern Ontario Canada, focused on Disaster Recovery and Data Management. The
acquisition of the RootCellar assets will provide Uniserve with a highly qualified pool of employees, a rich ecosystem of vendor
partners, and an existing sales funnel with historical multi-year recurring profitable revenues projected to be circa $8.5m by
their year-end 31st July 2018.
Uniserve’s CEO Nicholas Jeffery stated: “With the acquisition of RootCellar, Uniserve will continue to drive
its revenues, its enterprise mix of business and strengthen the partner alliances across Canada. RootCellar will integrate into
Uniserve’s existing business in Kitchener and will gain the opportunity to work with a very experienced managed services technology
and sales solutions team.”
The transaction is subject to TSXV approval and is expected to close on or before June 30, 2018. The
transaction is an arm’s length transaction.
Uniserve’s funding for the purchase will be through a private placement of 25,000,000 Units at $0.14 per
Unit, each Unit consisting of one common share and one transferable share purchase warrant. One warrant will be
exercisable for one additional common share at $0.16 per share as to one-quarter of the warrants being issued, for a nine-month
period, and the remaining three-quarters being issued at $0.20 per share for a two-year period. Directors of the Company are
committed to participate in approximately 60% of the units being offered pursuant to this placement. $2M of the proceeds from
the private placement will be used for the acquisition of RootCellar and $1.5M for general working capital purposes. A
finder’s fee may be payable in relation to this private placement and the same is subject to regulatory approval. The
financing is subject to TSXV approval and all securities will be subject to a four month hold period.
About Uniserve
Uniserve is a unified communications company in existence for 30 years, combining voice, data and media all into
one seamless solution, one bill and one point of contact. The unique selling proposition of the business is “SMART” Home,
businesses and spaces (buildings and cities). With 13,000+ customers spread across residential and enterprise centered around
Vancouver, Calgary and Waterloo/ Kitchener.
Uniserve prides itself on world class customer service based in Canada. When all else is equal, clients
can trust Uniserve to have a great price, a great experience and to be a company customers’ like working with – we call it “click,
call, connect”.
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.
Michael C. Scholz
Chairman of the Board
For more information please contact Mr. Mark Stanton at 604-395-3908 or email us at mark.stanton@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.
