SOURCE: Urban Communications Inc.

Urban Communications Inc.

March 19, 2015 08:09 ET

Urban Communications Inc. Launches Canada's First-Ever 1Gbps High-Speed Internet Service to Residential Users in Metro Vancouver

VANCOUVER, BC--(Marketwired - March 19, 2015) - Urban Communications Inc. (TSX VENTURE: UBN) ("Urban" or the "Company") is pleased to announce it has launched Gigabit ultra-high speed internet service to residential consumers in Metro Vancouver.

HIGHLIGHTS

  • Urban's 100%-owned state-of-the-art fiber optic network covers 200 kilometres across Metro Vancouver and part of Victoria, British Columbia
  • Low-cost, high-margin Internet Service Provider: Company-owned network allows Urban to offer its service to residents at an affordable rate of $49 per month
  • To date, the Company has connected 24 residential buildings in Metro Vancouver, representing an immediate serviceable market of 1,800 units and has secured access agreements with 28 additional buildings that represents over 3,000 units

DETAILS

To meet the burgeoning trend of online gaming and video streaming that is being underserved by dominant service providers, Urban is the first company to meet this challenge head on with ultra-fast and affordable Gigabit Internet.

Urban's 100%-owned fibre optic network covers 200 km through metro Vancouver and metro Victoria, BC and has a catchment area of 850,000 residential units.

Since January 2015, Urban has connected 24 residential buildings in Metro Vancouver passing over 1,800 units. To date, the Company has secured over 200 paying subscribers with overall numbers growing on a daily basis. An additional 28 residential buildings representing another 3,200 units have signed access agreements with Urban to deliver Internet service into their buildings and are in process to be connected to the network. The company targets to grow its user-base to 2,000 subscribers by the end of 2015.

"Following the success of Google Fiber's 1,000 mbps internet and tv service in the United States, we feel it's time to bring this product to Canada," said Mike Schmidt, President of Urban Communications Inc. "We are excited to see the overwhelming demand for our product and look forward to connecting more buildings within our network in the coming months."

ABOUT URBAN COMMUNICATIONS INC.

Urban Communications Inc. (TSX VENTURE: UBN), through its operating subsidiaries, is a telecommunications company providing a full suite of Internet, voice, video and broadband application products over its state-of-the-art carrier grade fibre optic network to commercial, residential and public sector customers. The Company's fibre optic network covers 200 km. across metro Vancouver and Victoria and has a potential serviceable market of 850,000 residential units and 80,000 commercial enterprises. Urban has recently launched high-speed internet service to residential and commercial subscribers on its network at 1,000 Mbps (1 Gbps).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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