Glenbriar Completes Sale of IT Services Assets to Uniserve and Declares Dividend

VANCOUVER, British Columbia, Jan. 18, 2018 -- Glenbriar Technologies Inc. (CSE:GTI) (the “Company”) today announced that further to its press releases dated November 3, 2017 and December 4, 2017, it has now completed the sale of its information technology services business to Uniserve Communications Corporation (TSX-V:USS) (“Uniserve”).  The final purchase price for the assets, after adjustments, was $1,782,492, of which $245,984 was paid in cash and the balance paid by way of demand promissory note.

The Company also wishes to announce that it has declared a dividend of $0.0136 per share.  The dividend is payable to shareholders of record on January 23, 2018 and will be paid on January 31, 2018.  The portion of the dividend payable to Uniserve will be satisfied by cancellation of the promissory note referred to above.

For further information call:

Hashim Mitha, CEO, Glenbriar Technologies Inc.
604-395-3900
[email protected]

The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond Glenbriar’s control. Some of these risks and uncertainties may be described in Glenbriar’s corporate filings (posted at www.sedar.com.  Glenbriar has no intention or obligation to update or revise any forward-looking statements due to new information or events.