Business
Report on Financial Results for the Three Months Ended March 31, 2025
TORONTO, May 28, 2025 (GLOBE NEWSWIRE) -- Mitchell Cohen, Chief Executive Officer and President o...
About this update from Urbanfund Corp.
[{"type":"text","content":"Report on Financial Results for the Three Months Ended March 31, 2025\n\n\n\n TORONTO, May 28, 2025 (GLOBE NEWSWIRE) -- Mitchell Cohen, Chief Executive Officer and President of Urbanfund Corp. (TSX-V: UFC) (“Urbanfund” or the “Company”), confirmed today that the Company has filed its financial statements for the three months ended March 31, 2025 (the “Consolidated Financial Statements”) and corresponding Management’s Discussion and Analysis (“MD&A”).\n \n\n\n BUSINESS OVERVIEW AND STRATEGY\n \n\n\n\n Business Overview\n \n\n\n Urbanfund Corp. is an incorporated entity listed on the TSX Venture Exchange (“TSX-V”) under the symbol UFC. The Company is a reporting issuer in Alberta, British Columbia and Ontario. Urbanfund’s focus is to invest in Canadian real estate and real estate related projects with a focus on a mix of both residential and commercial properties. The Company’s assets are located in Toronto, Brampton, Belleville, Kitchener and London, Ontario, Quebec City and Montreal, Quebec and Dartmouth, Nova Scotia.\n \n\n\n Operational Highlights\n \n\n\n Part of Urbanfund’s strength is its ability to attract partners with proven track records with both residential and commercial development expertise. Urbanfund continues to build alliances with its strategic partners:\n \n\n\n\n\n 1040 Martin Grove Road, Toronto\n \n\n – During the three months ended March 31, 2025, two commercial units (March 31, 2024 – two commercial units) were sold for total sales proceeds of $841,776. During the year ended December 31, 2024, six commercial units were sold for sale proceeds of $2,704,390. To date, the Company has received a return of capital of $1,465,603 from this investment.\n \n\n\n\n\n\n 270-330 Esna Park Drive, Markham\n \n\n - During the three months ended March 31, 2025, four commercial units (March 31, 2024 – no commercial units) were sold for total sales proceeds of $691,991 (March 31, 2024 – $Nil). During the year ended December 31, 2024, five commercial units were sold for sale proceeds of $1,033,374.\n \n\n\n\n\n\n PRESENTATION OF FINANCIAL INFORMATION AND NON-IFRS MEASURES\n \n\n\n\n Presentation of Financial Information\n \n\n\n Unless otherwise specified herein, financial results, including hist...