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PRESS RELEASE

Toronto, Ontario – Urbana Corporation (TSX Venture: URB) is pleased to announce that it has entered into an agreement to issue a non-interest bearing convertible note (the “Note”) for up to $500,000 to Caldwell Financial Ltd. (“Caldwell”) to replace the equivalent amount of a demand loan provided to the Corporation by Caldwell in November 2002. The Note will be convertible at any time for a five-year term into units at an initial conversion rate of CDN$0.30 per unit. Each unit will be comprised of one common share and one warrant to purchase a common share.

 

The transaction is subject to approval by minority shareholders and the TSX Venture Exchange.

 

For more information call
Sarah Noonan
Investor Relations
(416) 595-9106

Net Assets per share
as of September 23, 2022
$7.14
URB STOCK TSX: URB-A
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