There were 544 press releases posted in the last 24 hours and 156,085 in the last 365 days.

Urban Communications Inc. Announces Loan Increase

VANCOUVER, British Columbia, Aug. 11, 2017 (GLOBE NEWSWIRE) -- Urban Communications Inc. (TSX-V:UBN) announces that it has agreed to increase the principal amount of its existing loan facility with MHI Finance Corp. by $150,000 to a total of $5,600,000.  The interest rate of the loan remains at 11%/annum.  This portion of the loan is a cash flow bridge loan and is due to be repaid not later than August 31, 2017, in order to avoid penalties.  There are no loan bonus warrants in connection with the loan increase and all other terms of the existing facility and security remain unchanged.

The Company also announces the granting of 74,967 incentive stock options to a director 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, finance, sales and technical professionals at all levels.  The options are exercisable at $0.07 until June 30, 2020.


Urban Communications Inc. (TSX-V:UBN), one of the country’s first telecommunications companies to deliver Gigabit Internet service to the home, provides a full suite of Internet, voice, video and broadband application products over its 300 km. state-of-the-art carrier grade fibre optic network in Metro Vancouver and Victoria to commercial, residential and public sector customers. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


John Farlinger, Chief Executive Officer
Phone:  (604) 763-7565

/EIN News/ -- Primary Logo

Distribution channels: Telecommunications

EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.