Urbana Corporation

Urbana Corporation

August 23, 2007 17:14 ET

Urbana Corporation Purchases Additional American Stock Exchange Membership & Maintains a Cash Position in Government Guaranteed Treasury Bills

TORONTO, ONTARIO--(Marketwire - Aug. 23, 2007) - Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A)(TSX:URB.WT)(TSX:URB.WT.A) is pleased to announce that it has entered into an agreement to purchase a membership on the American Stock Exchange ("AMEX"), a private entity, for approximately US$360,000. The AMEX has been in existence for more than a century and has been a pioneer in market innovation. This purchase increases Urbana's stake in the AMEX to 5 memberships with an approximate value of CDN$2 million.

As it seeks North American and International opportunities in the exchange sector, Urbana also holds a cash position in excess of CDN$55 million. All of these funds are held directly in government guaranteed Treasury bills. Urbana owns no commercial paper or money market funds.

Urbana is an investment corporation that is listed on the Toronto Stock Exchange. Urbana's current focus is buying memberships and shares of 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.

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Contact Information

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