TORONTO, Feb. 17 /CNW/ - Unique Broadband Systems, Inc. (the "Company")
(TSX Venture: UBS) today announced that Look Communications Inc. ("Look") (TSX
Venture: LOK and LOK.A), its 51 per cent controlled subsidiary, announced that
the deadline for the delivery of bids to Grant Thornton Limited, (the
"Monitor") for the purchase of some or all, in whole or in part, of Look's
assets pursuant to the Sales Process Order approved by the Ontario Superior
Court of Justice on January 21, 2009, passed at noon yesterday.
In accordance with the Sales Process Order, the Monitor and Look will now
review the bids received and, if necessary, the Monitor may seek clarification
from Interested Parties regarding their bids.
About Unique Broadband Systems, Inc.
UBS is a publicly listed Canadian company that has a 51.8% fully diluted
economic interest in Look Communications Inc. and other assets. With its
licensed spectrum through its subsidiary, Look, UBS is a Canadian digital
television broadcaster and broadband wireless service provider. The Company's
website may be found at www.uniquebroadband.com.
About Look Communications Inc.
Look's mission has been to be an M3 - Mobile Multi Media -
communications, entertainment and information service provider in Ontario and
Québec. Look currently delivers a full range of communications services
including high-speed and dial-up Internet access, digital television
distribution, and superior customer service to both the business and
residential markets. Look provides its digital television distribution and
wireless Internet services using its approximately 100 MHz of Multipoint
Distribution System spectrum in the 2.5 to 2.7 GHz frequency band covering
approximately 18 million people (1.8 billion MHz/Pops) in the provinces of
Ontario and Quebec. Look's shares are listed on the TSX Venture Exchange under
the symbols "LOK" for Multiple Voting Shares and "LOK.A" for Subordinate
Voting Shares. Look's website may be found at www.look.ca.
Forward looking statements
The corporate information contained in this release includes
forward-looking statements regarding future events and the future performance
of the Company 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 the Company 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 the Company that actual results
achieved will be the same in whole or in part as those forecasts.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This press release should be read in conjunction with Look's press
release of February 17, 2009 announcing "BIDS UNDER EVALUATION AS
DEADLINE PASSES FOR LOOK ASSET SALE".
For further information:
For further information: Peter Block, E-mail:
email@example.com, (647) 259-3284