Marketwire
TORONTO, ONTARIO--(Marketwired - Oct. 21, 2013) -
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 that it has partnered with a new private equity firm, Radar Capital Inc. ("Radar Capital").
Radar Capital's initial focus is investing in late stage private companies that are looking for a partner to bring them towards a liquidity event within one to three years. Radar Capital's founder is Mark Lerohl, a career investment banker who has spent most of the last decade focused on transactions and financings for Canadian private companies.
Mark brings over 15 years of experience and significant corporate, investment banking, legal and accounting relationships to Radar Capital.
"Canadian entrepreneurs will definitely benefit from Urbana's partnership with and support of Radar Capital," said Mark Lerohl.
Urbana has partnered with Radar Capital providing operating capital to the Company as well as a lead order to the first fund of $5 million dollars.
Two of Urbana's directors, Thomas S. Caldwell and George D. Elliott have also been appointed to the Board of Radar Capital along with Mark Lerohl.
Urbana's Chairman, Thomas S. Caldwell, states, "Urbana Corporation sees private financing as an important component in Urbana's portfolio. Mark has the experience and capability to drive this initiative."
On behalf of the Board of Directors,
Thomas S. Caldwell, C.M.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Urbana to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Unless required by applicable securities law, Urbana does not assume any obligation to update these forward-looking statements.