Business
Uniserve Announces Partial Conversion of Debenture and Appointment of Lead Director
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2026) - Uniserve Communications Corporation (TSXV: USS) (the "Company" or "Uniserve"), a Digital Infrastructure Platform enabling mission-critical connectivity, cloud, managed IT, and AI agent driven services for Canadian businesses, wishes to announce that in connection with the Cyclone Systems Inc. ("Cyclone") transaction that closed February 5, 2025, 450,000 common shares have been issued at $0.45 per share in settlement of $202,500 of.
About this update from Uniserve Communications Corporation
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - April 27, 2026) - Uniserve Communications Corporation (TSXV: USS) (the "Company" or "Uniserve"), a Digital Infrastructure Platform enabling mission-critical connectivity, cloud, managed IT, and AI agent driven services for Canadian businesses, wishes to announce that in connection with the Cyclone Systems Inc. ("Cyclone") transaction that closed February 5, 2025, 450,000 common shares have been issued at $0.45 per share in settlement of $202,500 of the remaining $650,000 convertible debenture that was issued under the Cyclone transaction (the "Debenture"). The balance of the Debenture, namely $447,500, remains outstanding.","length":733,"tagName":"p"},{"type":"text","content":"The Company is pleased to announce the appointment of Brad Scharfe as its Lead Director effective immediately. Brad joined the Company's Board on December 14, 2023, and is currently a member of the Company's Corporate Governance and Compensation Committee, as well as its Audit and Risk Committee. As Lead Director, Brad will enhance the independence and effectiveness of the Board and foster professional, constructive and effective relationships between the Board and the Company's senior management.","length":514,"tagName":"p"},{"type":"text","content":"In addition, the Company wishes to further announce that it has granted, effective today, an aggregate of 750,000 stock options (each an "Option") to certain Directors of the Company in accordance with the Company's Rolling Stock Option Plan. Each Option is exercisable into one common share in the capital of the Company (each a "Share") at a price of $0.70 per Share, being the price of the Shares on the last closing price on the TSX Venture Exchange on April 24, 2026. The options granted are exercisable for a two year term expiring April 27, 2028, vest immediately, and are subject to a four month hold period to August 28, 2026.","length":659,"tagName":"p"},{"type":"text","content":"The $1,000,000 Debenture was originally issued to Cyclone in February 2025. $350,000 of the Debenture was converted into Uniserve common shares in June 2025, in accordance with the terms and conditions of the Debenture, leaving a balance of $650,000. On April 16, 2026, an aggregate of $202,500 o...