TORONTO, Aug. 7 /CNW/ - Unique Broadband Systems, Inc. (TSX Venture: UBS)
(the "Company" or "UBS") announces that 2064818 Ontario Inc., a corporation
wholly-owned by The Dolgonos 2005 Family Trust, has converted 11,305,332 Class
A Non-Voting Shares of UBS into an equivalent number of common shares of UBS.
To the knowledge of the Company, Mr. Dolgonos, as sole trustee of The Dolgonos
2005 Family Trust, retains voting control over these shares.
As a result of the conversion, to the knowledge of the Company, Mr.
Dolgonos has control or direction over an aggregate of 20,159,755 common
shares of UBS, representing approximately 20% of the 102,747,854 issued and
outstanding common shares of the Company. In addition, Mr. Dolgonos controls
stock options in respect of 4,000,000 common shares of UBS. The 11,305,332
Class A Non-Voting Shares which were converted into common shares represented
all of the issued and outstanding Class A Non-Voting Shares of UBS.
About Unique Broadband Systems, Inc.
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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
Quebec. The Corporation 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. The Corporation 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.
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