Urbana Corporation – Acquisition of Additional Shares in CNSX Markets Inc., the Operator of the Canadian Securities Exchange
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TORONTO, Aug. 31, 2021 (GLOBE NEWSWIRE) — Urbana Corporation (“Urbana”) (TSX & CSE: URB & URB.A) announces today its acquisition of an additional 200,000 shares in CNSX Markets Inc. (“CNSX”) at $4.00 per share from an existing shareholder.
The CNSX operates the Canadian Securities Exchange (“CSE”).
The acquisition increases Urbana’s investment to 13,460,878 common shares of CNSX, representing 49.92% of the outstanding common shares of the company.
Urbana took a significant position in CNSX in December 2012 as part of CNSX’s capital restructuring. Since that time, the CSE has welcomed over 500 new listings (currently over 700 listings), with over $18 billion in public capital raised by its listed issuer companies. Through July 2021, the CSE has already surpassed annual records for share volume and value traded, and capital raised by listed companies. Management of Urbana is optimistic about the continuing prospects for the CSE as it continues to broaden its product offerings and increased access to CSE listed securities internationally.
“With the continued support of Urbana, the CSE has achieved record levels of trading, new companies listing, company finance and market capitalization over the last year. We look forward to further growth in the coming year for the Exchange for Entrepreneurs,” said Richard Carleton, CEO of the CSE.
Urbana’s President, Thomas S. Caldwell, C.M. noted: “CNSX is an outstanding company with an exceptional management team.”
On behalf of Urbana’s Board of Directors
Thomas S. Caldwell, C.M.
For further information contact:
Elizabeth Naumovski
Investor Relations
(416) 595-9106 enaumovski@urbanacorp.com
Forward-Looking Statements
Certain information contained in this news release constitutes forward-looking information, which is information relating to possible events, conditions or results of operations which are based on assumptions about future economic conditions and courses of action and which are inherently uncertain. All information other than statements of historical fact may be forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “budget”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “target”, “intend”, “could”, “might”, “should”, “believe”, and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Urbana believes that the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct. Some of the risks and other factors which could cause results to differ materially from those expressed in forward-looking information contained in this news release are described in Urbana’s most recently-filed management’s discussion and analysis and annual information form. Any forward-looking information in this news release is provided as at the date of this news release, based upon the opinions and estimates of management and information available to management as at the date of this news release. Urbana undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information contained in this news release.
