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M&A / Property

Uniserve Commits to New Data Centre Facility

By The Northwire Desk — AI Analysis Sep 03, 2025 · 14:30 USS · 0.61 Uniserve Communications Corporation
USS · Price

Executive Summary

  • Uniserve Communications Corporation has entered into an Offer to Lease with 369 Terminal Holdings Ltd. to develop a new 2 Megawatt data centre in Vancouver, BC, aimed at supporting AI infrastructure and the digital economy.
  • The transaction involves a 10-year lease for 10,000 square feet with a total project budget of $12,000,000.
  • The landlord is providing significant financial incentives, including a $1,000,000 lease inducement and a $1,000,000 forgivable loan in exchange for 1,000,000 warrants convertible into common shares.

Key Details

  • Lease Terms: 10-year term for 10,000 square feet of premium space at 369 Terminal Avenue, Vancouver, BC.
  • Facility Specifications: Construction of a 2 Megawatt (MW) data centre facility.
  • Total Budget: $12,000,000 for the facility buildout.
  • Landlord Incentives:
    • $1,000,000 lease inducement to support capital buildout.
    • $1,000,000 forgivable loan provided in consideration for equity warrants.
  • Warrant Terms:
    • Quantity: 1,000,000 warrants.
    • Conversion Price: $0.60 per share.
    • Underlying Security: Common shares of Uniserve.
    • Term: One year.
  • Phase 1 Cost: Estimated at approximately $6,500,000.
  • Regulatory Status: The transaction is classified as a "related party transaction" under Multilateral Instrument 61-101 because the landlord (369 Terminal Holdings Ltd.) is an insider of the Company. It is exempt from formal valuation and minority shareholder approval requirements as the fair market value is not more than 25% of the Company’s market capitalization.
  • Strategic Context: The facility is described as a cornerstone of Uniserve’s national data centre expansion strategy, with additional projects under evaluation in key Canadian markets.

Notable Quotes

  • “This is a transformational step for Uniserve. With this expansion, we are not only strengthening our Vancouver infrastructure but also advancing our mission to provide Canadian businesses with sovereign, secure, and scalable AI infrastructure. This 2MW facility positions Uniserve at the forefront of the national AI economy.” — Kwin Grauer, Interim CEO
Read the original news release →

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