TORONTO, ONTARIO--(Marketwired - Dec. 18, 2013) -
NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
("Urbana") (TSX:URB)(TSX:URB.A) is pleased to announce its investment of $4.5 million in a private financing for Real Matters Inc. ("Real Matters").
"We are enthusiastic about this opportunity for Urbana to invest in the industry that Real Matters is reinventing," says, Thomas S. Caldwell, Chairman of Urbana Corporation. "Urbana's shareholders participated in the growth of the securities exchange sector as new entrants transformed and dominated the industry by automating what had previously been manual processes. We believe that Real Matters has demonstrated the potential to lead a similar transformation in the multi-billion dollar mortgage appraisal and property insurance assessment markets."
"We welcome Urbana as an investor," says Real Matters Founder & President, Jason Smith. "With a successful history of investing in private enterprises which have evolved into public companies we are thrilled to be partnering with Urbana as we accelerate our growth plans." (Real Matters Press Release Enclosed: http://media3.marketwire.com/docs/RealMatters.pdf)
On behalf of the Board of Directors of Urbana Corporation
Thomas S. Caldwell, C.M.
About Urbana Corporation
Urbana Corporation is a closed-end investment company whose portfolio now combines publicly traded and private holdings, with a current focus on financial services.
About Real Matters Inc.
Serving the North American mortgage industry through its Solidifi offering and the property and casualty (P&C) insurance industry through its iv3 CUS business, Real Matters creates powerful insights into residential and commercial properties. Leveraging its cloud-based technology platform, redihive™, the organization provides its customers with subject matter expertise garnered through partnerships with more than 26,000 field agents, comprised of Solidifi independent appraisers as well as iv3 insurance inspectors. Established in 2004, Real Matters' Canadian head office is located in Markham, Ontario and its U.S. head office in Buffalo, NY. Additional information about Real Matters is available at www.realmatters.com.
Certain statements in this press 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.