Urban Infrastructure Group Secures Debt
Brampton, Ontario--(Newsfile Corp. - May 12, 2025) - Urban Infrastructure Group Inc. (TSXV: UIG) a leading stage-one concrete and drainage infrastructure construction group, specializing in large scale new residential housing developments, ("UIG" or the "Corporation") would like to announce that it has entered into loan arrangements with certain related parties (each, a "Lender") whereby the Lenders advanced to the Company an aggregate of $150,000 (collectively, the "Loans"). UIG will use the Loans for working capital and general corporate purposes.
The Loans bear interest at a rate of 15% per annum and are evidenced by promissory notes in favour of the Lender. The Loans are repayable on the date that is six months from issuance.
The Corporation also intends to issue to the Lenders, subject to approval of the TSX Venture Exchange (the "TSXV"), as loan bonuses, an aggregate of 750,000 common share purchase warrants of the Corporation (each, a "Bonus Warrant"). Each Bonus Warrant entitles the holder thereof to acquire one (1) common share in the capital of the Corporation at an exercise price of $0.12 per share for a period of one (1) year from the date of the promissory notes (the "Expiry Date"). The Expiry Date may be accelerated if the closing price of the UIG's common shares on the TSXV is equal to or greater than $0.20 per share for any 10 consecutive trading days.
The Lenders are "related parties" (as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101")) of the Corporation and, therefore, the Loans are Related Party Transactions (as defined in MI 61-101). UIG is exempt from the formal valuation requirement and the minority approval requirement under MI 61-101 in respect of the Loans since, at the time of such loans, the fair market value of the consideration for Loans did not exceed 25% of UIG's market capitalization.
About Urban Infrastructure Group
UIG is a leading concrete and drainage infrastructure construction group engaged in the earliest stage of the construction process - known as Stage One. Urban Infrastructure Group specializes in large-scale, master-planned residential communities, with partners and customers behind some of Ontario's most significant residential development projects.
Connect with UIG: https://urbaninfrastructuregroup.com/
Contact:
Bill MitoulasInvestor RelationsT: 416.479.9547E: bill@urbaninfrastructuregroup.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of UIG, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Some of these risks are described under the "Caution on Forward-Looking Information" section and "Risk Factors" section of the MD&A. Although UIG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. UIG does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251768
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