TORONTO, ONTARIO--(Marketwired - July 14, 2017) -
NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Urbana Corporation ("Urbana") (URB.TO)(TSX:URB.A)(URB.TO)(URB.CN)(URB.TO)(CSE:URB.A) and HighView Financial Holdings Inc. ("HighView"), announce that Urbana has converted all of its non-equity interests in HighView, held directly or through HighView Investments Limited Partnership and Radar Capital Fund 1 Limited Partnership, into common shares of HighView as part of a capital restructuring of HighView. Management of Urbana believes that taking a stronger equity position in HighView will enable Urbana to better benefit from HighView's future growth.
"Urbana and Radar Capital Inc. have been our strategic capital partners for the past three years. This equitization transaction further strengthens our firm's balance sheet to support our continued growth, independence and objectivity as Canada's Outsourced Chief Investment Officer," says Gary Brent, Chairman of HighView. "The opportunity for HighView management to purchase additional equity will also enable us to both retain and attract top industry talent," says Mark Barnicutt, President & CEO of HighView.
"We are pleased and excited to be the strategic capital partner for HighView, Canada's Outsourced Chief Investment Officer firm. They have a proven strategy, with an outstanding team, which we believe reflects the future for objective advice in Canada," says Thomas Caldwell, President & CEO of Urbana Corporation.
Urbana's investment activities encompass both private equity and large cap publicly traded securities. Two of Urbana's larger private equity holdings became publicly traded this year (Bombay Stock Exchange and Real Matters Inc.).
HighView is a professional boutique investment counselling firm for affluent Canadian families and foundations. Acting as an Outsourced Chief Investment Officer, HighView works closely with investors and their professional advisors to design, implement, and manage tailored investment strategies to protect their assets and create long-term sustainability. For more information on HighView, please visit www.highviewfin.com.
About Urbana Corporation
Urbana Corporation is a diversified investment corporation with a current focus across the financial services sector and beyond, from exchanges to banks to investment management businesses and information services.
The primary strategy of Urbana is to seek and invest in private investment opportunities for capital appreciation. Urbana also invests part of its portfolio in publicly traded securities to provide growth, income and liquidity. This part of the Urbana portfolio generates dividends and interest income and is available for sale to generate proceeds that can be redeployed to other uses including private or less liquid investments.
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 it provided in this news release 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 MD&A 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.