USS Uniserve Communications Corporation

Uniserve Communications Corporation (TSX VENTURE:USS) (the "Company") announces
that it has received the approval of the TSX Venture Exchange (the "Exchange")
and completed the shares for debt and loan transactions announced on May 31,
2012. 


According to Uniserve Chief Executive Officer Mike Schmidt, "These transactions
are part of Uniserve's ongoing growth plans. Through the shares for debt
transaction and associated write off of legacy debt, we have improved our
working capital position by $282,000. The loan provides the Company with much
needed working capital to fund Uniserve's expansion in to the Cloud Computing
market." 


Uniserve has issued 1,190,710 Shares at a deemed price of $0.10 per Share in
settlement of outstanding debt in the amount of $161,143 owed to certain
creditors pursuant to debt settlement agreements dated for reference May 31,
2012. 


Further, the Company has entered into a loan arrangement pursuant to which it
will borrow $360,000 (the "Loan") from a related party (the "Lender"). The loan
is secured against the assets of the Company, bears 15% per annum interest and
is governed by the terms and conditions of a loan agreement (the "Loan
Agreement") dated May 31, 2012 (the "Loan Date"). 


In consideration for the Loan, the Company will issue to the Lender 1,200,000
non-transferable common share purchase warrants (the "Warrants"), with each
Warrant entitling the holder to purchase one common share of the Company at the
exercise price of $0.10 per share. The Warrants will be subject to a four month
hold period from the date they are issued and will be cancelled on a pro-rated
basis against capital repayments on the Loan, starting six months from the date
of issue. 


Uniserve Communications Corporation (TSX VENTURE:USS) is an industry leader in
the integration and delivery of voice and data services over multiple IP
networks directly or through wholesale partnerships to businesses and retail
consumers throughout Canada. Learn more at www.uniserve.com or at www.sedar.com.



This news release was prepared on behalf of the Board of Directors, which
accepts full responsibility for its contents.


Michael Schmidt, CEO

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.

Uniserve Communications (TSXV:USS)
Gráfica de Acción Histórica
De Abr 2024 a May 2024

Uniserve Communications (TSXV:USS)
Gráfica de Acción Histórica
De May 2023 a May 2024