URBAN COMMUNICATIONS INC V.UBN

RE: RE: when is the Liquidation

[eurojunkie]

I doubt that's the case considering they released on February 21st 2011 the intention to issue stock options at 12 cents

"NEWS RELEASE
URBAN COMMUNICATIONS INC.
ANNOUNCES THE GRANT OF DIRECTOR, EMPLOYEE AND CONSULTANT OPTIONS
Vancouver, BC, February 21, 2011 – Urban Communications Inc. (TSX-V: UBN) announces the
granting on February 21, 2011, of an aggregate of 2,265,000 incentive stock options at a price of

.12 to directors, employees and consultants of the Company in accordance with the Company’s
incentive stock option plan and policies established by the board of directors designed to attract,
retain and motivate industry, business and finance professionals. 525,000 options are exercisable
until February 21, 2013, 490,000 are exercisable until February 21, 2014, and 1,250,000 options
are exercisable until February 21, 2015. 525,000 incentive stock options previously granted at
prices ranging from
.10 to
.37 have been cancelled.
The aggregate number of shares that are reserved for issuance pursuant to these grants will not
result in more than 5% of the issued shares of the Company being issued to any one individual in a
12 month period."
He maybe referring to this release on February 1st 2011 
"NEWS RELEASE
URBAN COMMUNICATIONS INC.
CORPORATE UPDATE
Vancouver, BC, February 1, 2011 – Urban Communications Inc. (TSX-V: UBN) wishes to provide
its shareholders and the investment community with a corporate update due to the recent unusual
market activity in the trading of the Company’s shares.
On February 23, 2010, the Company announced that it had entered into an agreement with
Persona Communications Inc. to sell all of the shares of wholly owned operating subsidiaries,
Urban Utility Corp. and Urban Networks Inc. At a Special General Meeting held April 27, 2010, the
Company received approval of its shareholders firstly to sell substantially all its assets and
secondly to sell all its assets to Persona, through the sale of shares of its subsidiaries, or
alternatively, to consider offers other than the one from Persona received after the Notice of
Meeting.
The sale was first to have completed May 15, 2010, and the parties then extended the completion
date until June 17, 2010. On November 15, 2010, the Company announced that its agreement
with Persona had not completed, and that Persona had taken the position that the purchase and
sale agreement has terminated. The Company’s position was, and still is, that it substantially
complied with all of its obligations on or before the completion date and that the agreement has
not terminated.
In accordance with its obligations to its shareholders, and to mitigate any losses suffered as a
result of not completing the transaction with Persona, the Company continues to investigate
opportunities to sell its assets as authorized by the shareholders, or to finance ongoing operations
in order to fulfil its business plan objectives.
At the present time there has been no material change in the business affairs of the Company that
would warrant a significant change in the trading pattern of the Company’s shares. In the event
that there is a material change the Company will issue a news release and comply with all
applicable securities and Exchange rules in this regard."