TORONTO, ONTARIO--(Marketwire - June 28, 2012) -
NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A) is pleased to announce the purchase of 15.6 percent of the outstanding equity of Caldwell Financial Ltd., the holding company for Caldwell Securities Ltd., Caldwell Investment Management Ltd., Caldwell Insurance Services Ltd.
This transaction has been approved by an independent committee of the Board of Directors in accord with a Fairness Opinion provided by Macquarie Capital Group Limited. All regulatory approvals have now been received.
Urbana Corporation will continue to seek private acquisitions within the financial services sector valued at or near book value.
On behalf of the Board of Directors.