UBS Announces Election of New Board of Directors

Concerned Shareholders' director nominees immediately replace former Board

TORONTO, July 5 /CNW/ - Unique Broadband Systems, Inc. (TSX Venture: UBS) ("UBS") announces that Messrs. Robert Uliciki, Grant McCutcheon and Henry Eaton (the "New Board") were elected to the Board of Directors today at a special meeting of shareholders. Immediately following the special meeting, Mr. Robert Ulicki was appointed by the New Board to serve as Chairman of the Board of Directors of UBS.

The special meeting was requisitioned by a group of Concerned Shareholders for the purpose of removing Messrs. Gerald McGoey, Douglas Reeson and Louis Mitrovitch from the Board of Directors and to elect the New Board.

"We are pleased with the results and support from our fellow shareholders. We thank shareholders for voting their proxies and supporting this significant change," said Robert Ulicki, the new Chairman of the Board of Directors of UBS. "The New Board's immediate focus now shifts to recovering as much shareholder value as possible, for all shareholders. The New Board will update shareholders regularly as we move forward."

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.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to UBS are intended to identify forward-looking statements. Such statements reflect UBS' current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. UBS does not assume any obligation to update or revise the forward looking statements contained in this press release to reflect actual events or new circumstances.

%SEDAR: 00010550E

SOURCE Unique Broadband Systems, Inc.

For further information: For further information: Robert Ulicki, Chairman, UBS at 416-642-5703

Organization Profile

Unique Broadband Systems, Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890