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TORONTO, July 21 /CNW/ - Unique Broadband Systems, Inc. ("UBS" or the "Corporation") (TSX Venture: UBS) today announced that UBS' Board of Directors will serve as the Board of Directors of Look Communications Inc. ("Look") after the former Board, Chief Executive Officer and Chief Financial Officer of Look resigned en masse effective this morning.
UBS' Board, comprised of Robert Ulicki, Grant McCutcheon and Henry Eaton, have accepted their appointment to the Board of Directors of Look, made abruptly and without advance notice, by the former Look Board. The two vacancies that now exist on the Look Board are expected to be filled shortly with experienced and independent individuals.
As a result of the resignations, UBS' Chief Executive Officer, Mr. Grant McCutcheon, will also serve as Look's Chief Executive Officer. In addition, Mr. McCutcheon will serve as acting Chief Financial Officer of Look until a suitable replacement is found.
UBS indirectly holds 24,864,478 Multiple Voting Shares and 29,921,308 Subordinate Voting Shares of Look, which represents 37.6% of the voting interest and 39.2% of the economic interest in Look.
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. Except as required by law, 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.
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.
SOURCE Unique Broadband Systems, Inc.
For further information: For further information: Robert Ulicki, Chairman, UBS at 416-642-5703