UBS adds Bell Canada and Rogers to the Inukshuk lawsuit
18:07 EDT Wednesday, April 25, 2007
TORONTO, April 25 /CNW/ - UBS Wireless Services Inc., ("UBS Wireless") a wholly owned subsidiary of Unique Broadband Systems, Inc. (TSX Venture: UBS), filed a statement of claim onApril 21, 2004 against Allstream Corp., Microcell Telecommunications Inc., Microcell Solutions Inc. and Inukshuk Internet Inc., 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 Internet Inc. ("Inukshuk") for spectrum licenced to Inukshuk.
UBS Wireless has instructed its counsel to bring a motion to add the Inukshuk Wireless Partnership, owned directly or indirectly 50% byBell Canada and 50% by Rogers Communications Inc. ("Rogers"), as a defendant to the original lawsuit.
The proposed addition of Inukshuk Wireless Partnership to the claim is a result of the action dated March 30, 2006, whereby Bell Canada and Rogers caused the Multipoint Communications Systems (MCS) licences that were held by Fido Solutions Inc. (formerly Microcell Telecommunications Inc.) to be transferred to the Inukshuk Wireless Partnership, even though the asset itself was the subject of litigation for specific performance.
The assets and rights that need to be protected are significant to UBS shareholders and as such the Company intends to vigorously pursue these rights.
UBS has retained McMillan Binch Mendelsohn LLP to litigate this claim as Lenczner Slaght Royce Smith Griffin LLP, UBS' previous counsel, removed themselves as counsel since that firm was conflicted because of its relationship withBell Canada.
About Unique Broadband Systems, Inc.
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UBS is a publicly listed Canadian company that has a 51.6% 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 atwww.uniquebroadband.com.
About Look Communications Inc.
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Look's mission is to be an M(3) - Mobile Multi Media - entertainment and information service provider in Ontario and Québec. The Company is developing an M(3) network and currently delivers a full range of communications services, including high-speed and dial-up Internet access, Web applications, digital television distribution, and superior customer service to both the business and residential markets. 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 atwww.look.ca.
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 forecasts.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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For further information: Peter Block, Investor and media relations, E-mail: irinfo@uniquebroadband.com, (403) 531-0331, (416) 586-0180
