Last C$0.09 CAD
Change Today 0.00 / 0.00%
Volume 0.0
As of 2:08 PM 12/15/14 All times are local (Market data is delayed by at least 15 minutes).

urban communications inc (UBN) Snapshot

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03/19/14 - C$0.16
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01/17/14 - C$0.04
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urban communications inc (UBN) Details

Urban Communications Inc., a telecommunications company, develops and operates telecommunications networks for the delivery of video, telephone, and Internet services to commercial and residential customers in Vancouver and Victoria, British Columbia. The company engages in the construction and maintenance of fiber, cable, and wireless residential and commercial telecommunications networks to national and regional service providers. It also provides Ethernet services; and broadband services, including entertainment content and gaming portals. The company was formerly known as Boulevard Capital Ltd. and changed its name to Urban Communications Inc. in June 2001. Urban Communications Inc. was incorporated in 1988 and is headquartered in Burnaby, Canada.

Founded in 1988

urban communications inc (UBN) Top Compensated Officers

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urban communications inc (UBN) Key Developments

Urban Communications, Inc. Appoints Chris Convey as Interim Chief Financial Officer

Urban Communications, Inc. announced the appointment of Chris Convey as its Interim Chief Financial Officer. Mr. Convey have experience as CFO of public companies both in the United States and Canada, as well as having considerable telecom and high-tech market experience. Mr. Convey has previously served as the Chief Financial Officer of Uniserve Communications Corp.

Urban Communications Inc. Enters into Short Term Bridge Loan Debt Facility for the Principal Amount of $100,000

Urban Communications Inc. announce that it has entered into a short term bridge loan debt facility with a private lender for the principal amount of $100,000. The loan is secured by a General Security Agreement against all the assets of the company. The loan is due and payable on demand, bears interest at the rate of 12% per annum, and may be repaid at any time prior to the due date without penalty. The proceeds from the financing will be used to purchase electronic equipment required to deliver Internet, telephone and video services to residential and commercial customers. The loan is intended to be repaid from the proceeds of the convertible debenture financing announced August 14, 2014. The lender is an arms-length party, and, subject to regulatory approval, the Company will pay a bonus of 266,667 common shares as consideration for the loan advance.

Urban Communications, Inc. Wins an Appeal in the Supreme Court of British Columbia

Urban Communications, Inc. announced that it has won an appeal in the Supreme Court of British Columbia of an arbitrator's award in a commercial dispute with a customer in connection with a lease of a substantial number of fibre optic strands in a network connecting multiple sites of the customer. The dispute was in relation to the exercise of an option to renew several long term dark fibre optic strand leases pursuant to which the customer claimed it had properly exercised the option and Urban claimed the exercise of the option was defective in several respects. On June 11, 2014, a judge of the Supreme Court determined the appeal in favour of Urban by concluding that the option was not effectively exercised and that the customer has lost the right to exercise the option in the future, including those portions of the lease where the time to exercise the option has not yet passed. The result of the decision, which has been appealed by the customer to the B.C. Court of Appeal, is that the parties may either negotiate a new agreement on current commercial terms, or alternatively, Urban may regain unencumbered possession of the number of dark fibre optic strands previously under lease for its future commercial use, and significantly enhance the capacity of its already substantial 190 km. network in metro Vancouver and Victoria. In the interim, Urban claims entitlement to compensation for use of the fibre optic strands from the date of termination of three portions of the lease from dates ranging from May 10, 2012, to March 7, 2013.


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Price/Sales 3.8x
Price/Book 2.5x
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