Urban Select Capital Increases and Closes Financing of $365,000

Vancouver, British Columbia (FSCwire) - Urban Select Capital Corporation (TSX-V: CH) (“Urban Select” or the “Company”) has increased its previously announced financing from $200,000 to $365,000; and completed the non-brokered private placement of 7,300,000 shares of the Company at a price of $0.05 per share for gross proceeds of $365,000.

In accordance with securities legislation, all securities issued under the offering will be subject to a four-month hold period.

The company shall pay cash commissions to eligible finders under the offering totalling $ 29,200.  The Company will use the net proceeds of the offering for general working capital purposes.

"Closing this financing is an important step in the right direction for Urban Select in 2018," said David Yoo, Director and Chief Financial Officer. "We have the working capital necessary to look into and take the next steps on significant investment and acquisition opportunities that we are seeing in the first quarter of 2018," continued Mr. Yoo.

The private placement is subject to all necessary regulatory approvals, including from the TSX Venture Exchange.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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.

For further information, please contact:

David Yoo

Chief Financial Officer and Director

Urban Select Capital Corporation

Telephone: (604) 689-0618

Neither the 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.

Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf except as required by law.

To view the original release, please click here

Source: Urban Select Capital Corp. (TSX Venture:CH)

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