CNSX in the News
CNSX Markets Inc. Announces Investment Led by Urbana Corporation
Toronto, Ontario – Monday, December 17th, 2012 – CNSX Markets Inc. (“CNSX”), operator of the Canadian National Stock Exchange and Pure Trading, is very pleased to announce that its shareholders today approved an investment led by Urbana Corporation ("Urbana") (TSX: URB, URB.A). Under the terms of the deal, Urbana has invested $1.6 million in CNSX, and has committed to backstopping a follow-up round available on the same terms to current shareholders, directors, officers and employees. Urbana has also extended an offer to acquire additional shares from current shareholders. Following these transactions, Urbana will be a significant shareholder of CNSX.
CNSX shareholders also elected three new members to the Board today: two of Urbana's directors, Thomas S. Caldwell and George D. Elliott, along with Brendan T.N. Caldwell, President & CEO of Caldwell Investment Management Ltd., Urbana's investment manager. Continuing directors are Adam Conyers, Aubrey Baillie, Jeffrey MacIntosh and Joel Strickland.
In a press release issued earlier today, Urbana's Chairman, Thomas S. Caldwell, stated, "CNSX is a wonderful alternative platform which can be immensely helpful to securities dealers seeking a competitive venue on which to trade. For emerging companies looking for an exchange on which to list efficiently, the CNSX is outstanding. Given the new landscape in the Canadian exchange sector, CNSX's flexibility and advantages make it a great addition to Urbana’s portfolio, with significant upside potential both as a business and an investment."
For further information please contact (for CNSX) Richard Carleton, CEO, at 416-528-1257.
For Urbana Corporation, please contact, Elizabeth Naumovski, Urbana Corporation Investor Relations at 416-595-9106.
As an organization, we are constantly looking for ways to assist our dealers and other market participants to reduce costs and network management challenges.
CNSX announced today a new strategic partnership with Innovate Calgary and Alberta Deal Generator (ADG). Innovate Calgary and CNSX have forged a partnership agreement to enhance and support the technology and startup sector in Canada.
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