/NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./
TORONTO, Aug. 02, 2022 (GLOBE NEWSWIRE) — Urbana Corporation (“Urbana”) (TSX & CSE: URB & URB.A) announces today that it has made an additional investment in Evolve Funds Group Inc. (“Evolve”) through EFG Management Holdings Inc. This additional investment brings Urbana’s ownership interest in Evolve, both direct and indirect, from 22.8% to 31.3% on a fully diluted basis.
Evolve is the manager and trustee of a suite of exchange traded funds (“ETFs”). Management of Evolve is made up of a team of financial industry veterans with deep experience and a proven track record in asset management. Evolve is currently one of Canada’s fastest growing ETF providers. Urbana first invested in Evolve in February 2018, five months after it launched its first ETF. Since that time, Evolve has developed and successfully launched a suite of ETFs. Currently it has over $2 billion in assets under management.
On behalf of Urbana’s Board of Directors
Thomas S. Caldwell, C.M.
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Certain statements in this news release constitute “forward-looking” statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Urbana to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Unless required by applicable securities law, Urbana does not assume any obligation to update these forward-looking statements.