TORONTO, Feb. 25 /CNW/ - Unique Broadband Systems, Inc. (the "Company")
(TSX Venture: UBS) held its Annual General Meeting of Shareholders today in
Gerald McGoey, Chairman and CEO of the Company, provided a recap of
Look's sales process pursuant to the Plan of Arrangement approved by the
Ontario Superior Court of Justice on January 21, 2009. Mr. McGoey said that if
any agreement or agreements are executed with one or more purchasers for
Look's assets, Look will seek a Final Approval Order from the Court to approve
any transactions. Such transactions may be subject to various regulatory
approvals, though no other shareholder approvals are necessary for any asset
Other business at the meeting included the re-election of Gerald T.
McGoey, Peter Minaki, Louis Mitrovich and Douglas Reeson as Directors of the
Company, all of whom have served on the Board of Directors since March 2002.
Shareholders also re-appointed KPMG LLP as the Company's auditor for the 2009
The presentations made at the Annual General Meeting have been posted on
the Company's website at www.uniquebroadband.com
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.
For further information:
For further information: Peter Block, E-mail:
email@example.com, (647) 259-3284