Urban Select Capital Corporation Corporate Update

Urban Select Capital Corporation Corporate Update



Vancouver, British Columbia (FSCwire) - Urban Select Capital Corporation (TSX-V: CH) (“Urban Select” or the “Company”)

 

Following issue specific inquiries from the TSXV Compliance and Disclosure department, the Company wishes to clarify two items of prior disclosure:

 

  1. In the Company’s event notes to its March 31, 2018 financial statements and corresponding MD&A, the Company stated “On May 2, 2018, the Company completed a non-brokered private placement of 500,000 shares of the Company at a price of $0.05 per share for gross proceeds of $25,000.”  This incorrectly implied that the Company completed a financing for $25,000, when in fact the Company made an investment of $25,000 into a company called Lions Bay Holdings at a price of $0.05 per share.

 

  1. In a press release dated April 10, 2018 the Company announced that it had granted a total of 4,800,000 inventive stock options to directors, officers and consultants of the Company.  Subsequently, the Company made similar statements in the subsequent event notes to its March 31, 2018 financial statements and corresponding MD&A.  These options were in fact not granted. There are presently no incentive stock options outstanding under the Company’s Stock Option Plan.

 

The Company will ensure that its June 30, 2018 audited statements and MD&A accurately portray the above two matters.

 

For further information, please contact:

 

David Yoo

Chief Financial Officer and Managing Director

Phone: 604-689-0618

 

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.

 





To view the original release, please click here



Source: Urban Select Capital Corp. (TSX Venture:CH, FWB:1QD)

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