Toronto, Ontario – January 12, 2004 – Urbana Corporation (TSX Venture: URB) announces that its wholly-owned U.S. subsidiary, Urbana America Inc., has leased out its New York Stock Exchange Seat, which was purchased on December 18, 2003 for $1,500,000 (U.S). The seat has been leased for $190,000 (U.S) per year under a 1 year lease.
“We’re on track with our business plan for Urbana Corporation. With our investment portfolio having grown by 692% since September 30, 2002 and 309% for the year ended December 31, 2003, these have been very exciting times for the company,” stated President, Thomas S. Caldwell.
Urbana Corporation’s NYSE seat purchase and lease, in conjunction with its continuing mineral exploration investment activities, illustrate the company’s long-term strategy of balance between investment and natural resource activities.
This press release has not been reviewed by the TSX Venture Exchange.