03:17:03 EDT Wed 24 Apr 2024
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Uniserve Communications Corp (3)
Symbol USS
Shares Issued 39,030,385
Close 2016-10-12 C$ 0.045
Market Cap C$ 1,756,367
Recent Sedar Documents

Uniserve arranges $750K financing, names Mitha CEO

2016-10-13 13:10 ET - News Release

Mr. Michael Scholz reports

15,000,000 UNIT PRIVATE PLACEMENT AT $0.05 PER UNIT

Uniserve Communications Corp.'s Hashim Mitha, the current president and chief operating officer, has been appointed interim chief executive officer, allowing John Dobson to focus his efforts on growing the company`s enterprise consulting division.

Also, Salim Tharani, who agreed to join the board of directors as announced in the company`s Sept. 15, 2016, press release, will not be appointed to the board at this time. Mr. Tharani will act as an adviser to the board.

Furthermore, the company has agreed to a private placement of 15 million units at five cents per unit, each unit consisting of one common share and one transferable two-year share purchase warrant. One warrant will be exercisable for one additional common share at five cents per share during year one and six cents per share during year two. The proceeds derived from the 15-million-unit placement will be used for working capital. A finder's fee may payable in relation to this private placement, and the same is subject to exchange approval.

We seek Safe Harbor.

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