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Attention Business Editors
Claim against Inukshuk Wireless Partnership is dismissed by court
UBS continues its claims against Allstream and Rogers' subsidiaries
TORONTO, May 13 /CNW/ - Unique Broadband Systems, Inc.'s ("UBS" - TSX
Venture: UBS) wholly owned subsidiary, UBS Wireless Services Inc., ("UBS
Wireless"), commenced litigation in April 2004 against Allstream and a current
Rogers subsidiary, Microcell, and two of its subsidiaries, including Inukshuk
Internet Inc. The litigation was initiated for, amongst other things, breaches
of contract, confidence and fiduciary duties with respect to a signed
agreement involving the MCS spectrum.
As a result of a request by Rogers and Bell for Industry Canada to
transfer the MCS spectrum out of the companies being litigated against, into a
new partnership between Rogers and Bell ("Inukshuk Wireless Partnership"), the
MCS spectrum asset under litigation was removed from the Rogers subsidiaries
being sued.
This transfer of the MCS spectrum may affect the claim for specific
performance in the April 2004 action and accordingly, UBS Wireless filed a new
claim in August 2007 requiring the Inukshuk Wireless Partnership (Rogers and
Bell) to return the MCS spectrum asset to the Rogers subsidiary under
litigation if the Courts find in favour of UBS Wireless' claim in the 2004
litigation.
In May 2008, the Ontario Superior Court of Justice dismissed the claim
requiring the Inukshuk Wireless Partnership (Rogers and Bell) to return the
MCS spectrum to the Rogers subsidiary.
UBS Wireless continues to pursue its April 2004 litigation against
Allstream and Rogers' subsidiaries arising from the breaches of contract,
confidence and fiduciary duty.
About Unique Broadband Systems, Inc.
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UBS is a publicly listed Canadian company that has a 51.7 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 forecasts.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
UBS' significant claims are summarized in its 2007 Annual MD&A and
subsequent quarterly MD&A for fiscal 2008 in the section entitled
"Contingencies". This press release should be read in conjunction with the
relevant section in the MD&A.
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/For further information: Peter Block, Investor and media relations,
(403) 531-0331, (416) 586-0180, E-mail: irinfo@uniquebroadband.com/
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