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Urbana Announces Proposed Private Placement

TXS Venture:URB


Toronto, Ontario – April 5, 2004 – Urbana Corporation (“Urbana”) (TSX Venture: URB) is pleased to announce a proposed private placement equity financing of its securities to accredited investors. A maximum of 3,000,000 common shares of Urbana will be issued at a purchase price of $1.00 per common share. Urbana currently expects that the private placement will be completed by May 14, 2004. No commissions will be paid to any agent or underwriter in connection with the private placement.


The proceeds of the offering are expected to be used for general corporate purposes and it is management’s intention to finance the purchase of an additional seat on the New York Stock Exchange. In addition, proceeds will be used to supplement Urbana’s investment program and to develop its gold prospect holdings in Urban Township, Quebec.


The private placement is subject to the approval of the TSX Venture Exchange.


Urbana is currently focusing its mineral exploration efforts on its 72 claim holding in Urban Township, Quebec.


Please contact Thomas S. Caldwell at 416-595-9106 for further information.


This press release has not been reviewed by the TSX Venture Exchange.

Net Assets per share
as of June 7, 2024
$4.74 -0.04 (-0.84%)
$5.50 -0.02 (-0.36%)