By Devika Patel
Knoxville, Tenn., June 24 - Urban Communications Inc. said it will raise C$2.5 million in a non-brokered private placement of stock.
The company will sell 16.67 million common shares at C$0.15 per share.
Proceeds will be used to meet demand for the company's broadband services, expand its sales operations and develop new service offerings.
Based in Vancouver, B.C., Urban Communications provides fiber optic telecommunications networks and broadband subscriber services.
| Issuer: | Urban Communications Inc.
|
| Issue: | Common shares
|
| Amount: | C$2,500,500
|
| Shares: | 16.67 million
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 24
|
| Stock symbol: | TSX Venture: UBN
|
| Stock price: | C$0.17 at close June 24
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
