Urbana Corporation – Acquisition of Additional Shares in CNSX Markets Inc., the Operator of the Canadian Securities Exchange
August 31 2021 - 8:00AM
Urbana Corporation (“Urbana”) (TSX & CSE: URB & URB.A)
announces today its acquisition of an additional 200,000 shares in
CNSX Markets Inc. (“CNSX”) at $4.00 per share from an existing
shareholder.
The CNSX operates the Canadian Securities
Exchange (“CSE”).
The acquisition increases Urbana’s investment to
13,460,878 common shares of CNSX, representing 49.92% of the
outstanding common shares of the company.
Urbana took a significant position in CNSX in
December 2012 as part of CNSX’s capital restructuring. Since that
time, the CSE has welcomed over 500 new listings (currently over
700 listings), with over $18 billion in public capital raised by
its listed issuer companies. Through July 2021, the CSE has already
surpassed annual records for share volume and value traded, and
capital raised by listed companies. Management of Urbana is
optimistic about the continuing prospects for the CSE as it
continues to broaden its product offerings and increased access to
CSE listed securities internationally.
“With the continued support of Urbana, the CSE
has achieved record levels of trading, new companies listing,
company finance and market capitalization over the last year. We
look forward to further growth in the coming year for the Exchange
for Entrepreneurs,” said Richard Carleton, CEO of the CSE.
Urbana’s President, Thomas S. Caldwell, C.M.
noted: “CNSX is an outstanding company with an exceptional
management team.”
On behalf of Urbana’s Board of Directors Thomas
S. Caldwell, C.M.
For further information contact:
Elizabeth Naumovski Investor Relations (416) 595-9106
enaumovski@urbanacorp.com
Forward-Looking Statements
Certain information contained in this news release constitutes
forward-looking information, which is information relating to
possible events, conditions or results of operations which are
based on assumptions about future economic conditions and courses
of action and which are inherently uncertain. All information other
than statements of historical fact may be forward-looking
information. Forward-looking information is often, but not always,
identified by the use of words such as "seek", "anticipate",
"budget", "plan", "continue", "estimate", "expect", "forecast",
"may", "will", "project", "predict", "potential", "target",
"intend", "could", "might", "should", "believe", and similar words
or phrases (including negative variations) suggesting future
outcomes or statements regarding an outlook. Forward-looking
information involves known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
information. Urbana believes that the expectations reflected in the
forward-looking information are reasonable but no assurance can be
given that these expectations will prove to be correct. Some of the
risks and other factors which could cause results to differ
materially from those expressed in forward-looking information
contained in this news release are described in Urbana's most
recently-filed management’s discussion and analysis and annual
information form. Any forward-looking information in this news
release is provided as at the date of this news release, based upon
the opinions and estimates of management and information available
to management as at the date of this news release. Urbana
undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by law.
Readers are cautioned not to place undue reliance on
forward-looking information contained in this news release.
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