Urbana Corporation
TSX : URB
TSX : URB.A

Urbana Corporation

March 21, 2013 15:49 ET

Urbana Corporation Acquires Final Tranche of CNSX Markets Inc.

TORONTO, ONTARIO--(Marketwire - March 21, 2013) - Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A) -

NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

On March 4, 2013, Urbana Corporation and CNSX Markets Inc. ("CNSX") completed the second tranche of a financing, the first tranche of which was announced on December 17, 2012.

The transaction raised a total of $3.2 million for CNSX. Current shareholders, employees, officers, directors and strategic third parties participated in the offering, which was led by Urbana. As a result of the transaction, Urbana is CNSX's largest shareholder.

With the proceeds of the financing, CNSX has eliminated its long term debt, is enhancing its sales and marketing efforts and has embarked on a capital investment programme designed to deliver new trading services and reduce technology and network costs for the company and its dealer and vendor partners.

"With the support of our existing and new shareholders, CNSX is building on its growing reputation as the Exchange for Entrepreneurs", said Richard Carleton, CEO of CNSX. "Our service-oriented team, clear and concise rule book, streamlined issuer review process and attractive fee structure combine to make CNSX an excellent choice for companies looking to access the Canadian public capital markets."

"Urbana Corporation welcomes this opportunity to participate in the development of CNSX to assist entrepreneurs in developing the next generation of innovative Canadian corporations", said Thomas Caldwell, CEO of Urbana Corporation.

Contact Information

  • Urbana Corporation
    Thomas S. Caldwell
    CEO
    416-595-9106
    416-862-2498 (FAX)
    www.urbanacorp.com

    CNSX Markets
    Richard Carleton
    CEO
    416-572-2000 ext. 2326