Urbanfund Corp. Declares Dividend

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, March 22, 2021 (GLOBE NEWSWIRE) -- Mitchell Cohen, Chief Executive Officer and President of Urbanfund Corp. (TSX-V: UFC) (“Urbanfund” or the “Company”), announces that the Board of Directors of the Company has declared a dividend of $0.0075 per common share and $0.0075 per Series A, first preferred share for the three-month period ended March 31, 2021, representing $0.03 per share on an annualized basis. The dividend is payable on April 15, 2021 to the shareholders of record on March 31, 2021.

This dividend is designated by the Company as an eligible dividend as defined by the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.

The Company has Dividend Reinvestment Plans for holders of its common shares and Series A, first preferred shares (collectively, the "DRIPs"). The DRIPs provide eligible shareholders with the opportunity to reinvest their cash dividends, on each dividend payment date, in additional common shares of the Company at a 5% discount to the volume-weighted average trading price of the common shares for the ten-day period preceding the dividend payment date. Shareholders are encouraged to review the text of the DRIPs, which are available at www.sedar.com, and consult with their investment advisors should they desire to participate.

The declaration and payment of dividends is at the discretion of the board of directors of the Company and any future declaration of dividends will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the board of directors of the Company.

ABOUT URBANFUND

Urbanfund is a Toronto-based real estate development and operating company listed on the TSX Venture Exchange (“TSX-V”) under the symbol UFC. The Company is a reporting issuer in Alberta, British Columbia and Ontario.

The Company’s focus is to identify, evaluate and invest in real estate or real estate related projects. The Company’s assets are located in Toronto, Belleville, Kitchener, London, and Brampton Ontario and in Montreal and Quebec City, Quebec and Dartmouth, Nova Scotia.

FORWARD-LOOKING INFORMATION

This press release contains certain forward-looking statements, including statements about the Company's dividend policy and dividend payment, which constitute forward-looking statements. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.