Urbana Corporation Purchases Additional American Stock Exchange Membership & Maintains a Cash Position in Government Guaranteed Treasury Bills
Toronto, Ontario – August 23, 2007 – Urbana Corporation (“Urbana”) (TSX: URB/URB.A /URB.WT/URB.WT.A) is pleased to announce that it has entered into an agreement to purchase a membership on the American Stock Exchange (“AMEX”), a private entity, for approximately US$360,000. The AMEX has been in existence for more than a century and has been a pioneer in market innovation. This purchase increases Urbana’s stake in the AMEX to 5 memberships with an approximate value of CDN$2 million.
As it seeks North American and International opportunities in the exchange sector, Urbana also holds a cash position in excess of CDN$55 million. All of these funds are held directly in government guaranteed Treasury bills. Urbana owns no commercial paper or money market funds.
Urbana is an investment corporation that is listed on the Toronto Stock Exchange. Urbana’s current focus is buying memberships and shares of private and public securities exchanges in North America and around the world.
Elizabeth Naumovski, Investor Relations at 416-595-9106 for further information.