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Urban Select Completes Plan of Arrangement with Genesis Fintech Inc.
VANCOUVER, BC / ACCESSWIRE / February 4, 2019 / Urban Select Capital Corporation (TSXV: CH) ...
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[{"type":"text","content":"Urban Select Completes Plan of Arrangement with Genesis Fintech Inc.VANCOUVER, BC / ACCESSWIRE / February 4, 2019 / Urban Select Capital Corporation (TSXV: CH) (\"Urban Select\" or the \"Company\") announces it has closed on the plan of arrangement with Genesis Fintech Inc. (\"Genesis\").Pursuant to an Arrangement Agreement dated February 5, 2018 (as approved by its shareholders on March 15, 2018 and by the British Columbia Supreme Court on March 19, 2018), Urban Select invests $75,000 into Genesis and receives 1,500,000 shares of Genesis. It is the intention of Urban Select to distribute 1,000,000 Genesis shares to the shareholders of Urban Select, on a pro-rata basis, as a return of capital or dividend-in-kind, and retain 500,000 shares as an equity investment.Genesis is a company organized to investigate opportunities in the fintech and blockchain payments sectors.\"We are excited about opportunities to facilitate investment in the fintech, blockchain payment space and make every-day crypto transactions the easy and preferred choice for merchants, enterprises, and consumers,\" commented David Yoo, director of Urban Select. \"We look forward to updating shareholders on developments with this particular investment opportunity.\"About Urban Select Capital Corp.Urban Select Capital Corp. is an investment issuer focused on investing growth capital in private and public companies in a broad range of sectors including natural resources, media & entertainment, education, healthcare and consumer retail services. Urban Select's management team is composed of investment professionals combining an Asian background with Western education and extensive experience in investment banking, venture capital and fund management in Canada, China and the U.S.About Genesis Fintech Inc.Genesis Fintech is investigating opportunities in the fintech and blockchain payments sector. For further information, please contact:David Yoo Chief Financial Officer and DirectorPhone: 604-689-0618Neither 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.SOURCE: Urban Select Capital Corporation \n ","length":2591,"tagName":"div"}]