TORONTO, Aug. 23 /CNW/ - UBS Wireless Services Inc., ("UBS Wireless") a
wholly owned subsidiary of Unique Broadband Systems, Inc. (the "Company" - TSX
Venture: UBS), today announced that it has filed a Statement of Claim with the
Ontario Superior Court of Justice against the Inukshuk Wireless Partnership
(the "Inukshuk Partnership"), owned directly or indirectly 50 per cent by Bell
Canada ("Bell") and 50 per cent by Rogers Communications Inc. ("Rogers").
The Statement of Claim seeks, amongst other things, a mandatory order
requiring the Inukshuk Partnership to return to Fido Solutions Inc. ("Fido",
formerly Microcell Telecommunications Inc.) any and all rights or licences to
use or exploit the Inukshuk Multipoint Communications Systems (MCS) Spectrum
and such other, interim, interlocutory or final relief as may be necessary to
enable Fido to comply with any order requiring the specific performance of
certain obligations to UBS Wireless.
UBS Wireless filed a Statement of Claim on April 21, 2004 against
Allstream Corp., Microcell Telecommunications Inc., Microcell Solutions Inc.
and Inukshuk Internet Inc. ("Inukshuk"), for, amongst other things, specific
performance, breach of contract, breach of confidence and breach of fiduciary
duty in respect of a Right of Use and Right to Match Agreement between UBS
Wireless and Inukshuk for the MCS spectrum licenced to Inukshuk. On or about
March 30, 2006, Rogers and Bell caused the MCS licences that are the subject
of that litigation to be transferred to the Inukshuk Partnership and any
successful result of this claim will result in a direct claim against each of
Bell and Rogers.
The assets and rights that need to be protected are significant to the
Company's shareholders, and as such, the Company intends to vigorously pursue
these rights. Regulatory approval transferring the rights in the MCS Spectrum
to UBS Wireless will be required upon a favourable decision by the Court. The
outcome of the Court's decision or the decision of any government department
or agency, or other regulatory body cannot be predicted at this time.
About Unique Broadband Systems, Inc.
UBS is a publicly listed Canadian company that has a 51.6 per cent 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
web site may be found at www.uniquebroadband.com.
The corporate information contained in this release contains
forward-looking statements regarding future events and the future performance
of the Company that involves 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 will vary
from the information provided herein and the variations may be material.
Consequently, there is no representation by UBS and Look that actual results
achieved will be the same in whole or in part as those forecast.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Peter Block, Investor and media relations,
(403) 531-0331, (416) 586-0180, E-mail: firstname.lastname@example.org