Uniserve Communications Corporation (TSXV: USS) has issued an update regarding the preparation of its business acquisition report (BAR) and associated financial statements related to its acquisition of Megawire Inc. The company stated that it will not meet the 75-day filing deadline prescribed under National Instrument 51-102 – Continuous Disclosure Obligations (NI 51-102), as it requires additional time to prepare the financial statements and complete the audit of annual financial statements to be included in the BAR.
The BAR is required to be filed within a 75-day period following the acquisition. Uniserve had previously announced the acquisition of all of the business, assets, and undertaking of Megawire Inc. in a news release dated December 23, 2025. However, Megawire, along with other companies involved in the transaction—Brimax Financial Services Inc. (Brimax) and Waterloo Wireless Inc.—are private companies and have not previously prepared or filed audited financial statements. This has necessitated additional time for Uniserve to work with its selected auditor to prepare the required financial statements and complete the audit.
Uniserve expects to make the required filings by no later than June 30, 2026. In the interim, the company has imposed a management trading blackout pending the filing of the required documents. Other than these required filings, Uniserve confirms that it is current in its other continuous disclosure filings and will provide updates as required in accordance with applicable securities laws.
The acquisition of Megawire is seen as an important step for Uniserve in expanding its capabilities and geographic reach in delivering managed IT, connectivity, and digital infrastructure solutions across Canada. Uniserve provides a full suite of services across three core verticals: Data Centre Solutions, Managed IT Services, and Business Internet, with offices in Vancouver, Calgary, and Waterloo. For more information about Uniserve, visit www.uniserve.com or www.sedarplus.ca.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. The statements contained in this news release that are not historical facts are forward-looking statements, based on management's estimates, assumptions, and projections using available information. Uniserve cautions that actual financial results could differ materially from current expectations due to a number of factors.
