Urbana Corporation

Urbana Corporation

September 07, 2007 09:15 ET

Urbana Corporation Purchases 23 Additional Minneapolis Grain Exchange Memberships

TORONTO, ONTARIO--(Marketwire - Sept. 7, 2007) - Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A)(TSX:URB.WT)(TSX:URB.WT.A) is pleased to announce that it has acquired another 23 memberships on the Minneapolis Grain Exchange ("MGEX"), a private entity, for approximately US$5.9 million. This purchase increases Urbana's stake in the MGEX to approximately CDN$8.8 million or 31 memberships.

MGEX, established in 1881, is the only market for Hard Red Spring Wheat, National Corn Index (NCI), National Soybean Index (NSI), Hard Red Winter Wheat Index (HRWI), Hard Red Spring Wheat Index (HRSI) and Soft Red Winter Wheat Index (SRWI) futures and options.

Urbana is an investment corporation that is listed on the Toronto Stock Exchange. Urbana's current focus is buying seats and shares in private and public securities exchanges in North America and around the world.

Forward Looking Statements

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. There is no assurance that the membership purchase announced will be completed, or that if completed, such membership purchase will be a profitable investment for Urbana. Unless required by applicable securities law, Urbana does not assume any obligation to update these forward-looking statements.

Contact Information

  • Urbana Corporation
    Elizabeth Naumovski
    Investor Relations
    (416) 595-9106
    Website: www.urbanacorp.com