Urbana Corporation Announces the Purchase of Additional Shares of HighView Financial Holdings Inc.
February 23 2021 - 10:44AM
Urbana Corporation ("Urbana") (TSX and CSE: URB,
URB.A) is pleased to announce that it has acquired an additional
5,150,861 shares of HighView Financial Holdings Inc. (“HighView”),
previously owned by one of Urbana’s subsidiaries, for an amount of
$5,923,490. This brings the value of Urbana’s direct ownership in
HighView to $17,548,869.
HighView employees continue to have the
opportunity to increase their percentage ownership on a previously
established formula.
Urbana has the right to nominate two of
HighView’s five Directors, thus preserving the company’s governance
and operating independence.
ABOUT HIGHVIEW FINANCIAL HOLDINGS
INC. HighView Financial Holdings Inc. (“HFHI”) is the
holding company of two wholly-owned operating subsidiaries,
HighView Asset Management Ltd. (“HAML”) and HighView Wealth
Practices Inc. (“HWPI”), the Portfolio Manager and Insurance Agency
of HFHI. HighView Financial Group is a brand name used by
HFHI, HAML & HWPI.
HighView Financial Group (“HFG”) is an
experienced wealth management firm. Acting as an outsourced Chief
Investment Officer, HFG designs, implements and helps manage
tailored investment portfolios for its clients. HFG’s
management have shown their ability to execute on a clear vision of
the needs of high net worth investors
For more information visit
www.highviewfin.com.
ABOUT URBANA CORPORATION Urbana
Corporation is a diversified investment corporation with a current
focus across the financial services sector from exchanges to banks
to broker dealers, investment managers and information
services.
The long-term goal of Urbana is to seek and
acquire investments for income and capital appreciation through a
combination of public and private investments. The mix of an
actively managed portfolio of publicly traded securities with
private equity investments ensures non-committed assets are
productively employed as we seek out, evaluate and participate in
opportunities within the non-public sphere.
For more information, visit
www.urbanacorp.com.
On behalf of Urbana’s Board of Directors Thomas
S. Caldwell, C.M.
For further information, please contact: Elizabeth
Naumovski, Investor Relations enaumovski@urbanacorp.com or
416-595-9106
Certain statements in this news release
constitute “forward-looking” statements that involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Urbana to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Unless required by applicable securities law, Urbana
does not assume any obligation to update these forward-looking
statements.
150 KING ST. W., SUITE 1702, P.O. Box 47,
TORONTO, ONTARIO M5H 1J9 TEL: 416-595-9106 FAX:
416-862-2498 www.urbanacorp.com
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