TORONTO, ONTARIO--(Marketwired - May 27, 2015) -
NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A)(CSE:URB)(CSE:URB.A) announced today the appointment of Charles A.V. Pennock to its Board of Directors effective immediately. Mr. Pennock, as an independent Director, will serve on the Audit Committee and the Governance, Nominating & Compensation Committee of the Board.
Mr. Pennock has over 25 years of investment banking experience and has held various senior executive positions at both Canadian and international investment banks. He also holds the ICD.D designation from the Institute of Corporate Directors. The Board believes that the Corporation will greatly benefit from Mr. Pennock's expertise and experience in the investment banking industry.
"These are exciting times for Urbana Corporation," says Thomas S. Caldwell, C.M., President & CEO of Urbana, "We are delighted to have Charlie join our Board of Directors."
Urbana Corporation is an investment company with interests across the financial services sector. The goal of Urbana Corporation is to generate long-term asset growth through a combination of public and private investments. The mix of an actively managed liquid portfolio, with private equity investments, ensures non- committed assets are productively employed as the company seeks out and evaluates opportunities in the non-public sphere. As a result of its permanent capital base, Urbana Corporation has the scope to pursue both short and long- term business opportunities.
On behalf of Urbana's Board of Directors,
Thomas S. Caldwell, C.M.