TORONTO, June 28, 2019 (GLOBE NEWSWIRE) -- The 2008 Caldwell Family Trust (the “Family Trust”) announced that it has today acquired 117,700 Common Shares of Urbana Corporation (the “Issuer”) from The Caldwell Investment Trust I, 20,000 Common Shares of the Issuer from Caldwell Financial Ltd., and 300,000 Class A Shares of the Issuer from The Caldwell Investment Trust II, for a price per Common Share of CAD$2.40 and a price per Class A Share of CAD$2.30, for an aggregate purchase price of CAD$1,020,480.
The transactions were effected by way of a private agreement transaction. The Family Trust purchased the securities for investment purposes only and may or may not purchase or sell securities of the Issuer in the future on the open market or in private transactions, depending on market conditions and other factors.
As a result of these acquisitions, Thomas S. Caldwell owns, directly or indirectly, 4,164,630 Common Shares of the Issuer representing 41.64% of the outstanding Common Shares of the Issuer. Mr. Caldwell also controls 273,231 Common Shares of the Issuer representing 2.73% of the outstanding Common Shares of the Issuer, and 301,200 Class A Shares of the Issuer representing 0.75% of the outstanding Class A Shares of the Issuer.
Immediately prior to these transactions, Thomas Caldwell owned, directly or indirectly, or controlled the same number of Common Shares and Class A Shares but through different related entities. For the purposes of these transactions, the joint actors of Thomas Caldwell are the Family Trust and Dorothy A. Caldwell, Thomas Caldwell’s spouse, and a trustee and a beneficiary of the Family Trust.
For further information, contact Thomas S. Caldwell, (416) 595-9106. The Issuer’s head office is located at 150 King Street West, Suite 1702, Toronto, Ontario M5H 1J9.