Urbana Corp. reported unaudited consolidated earnings results for the six months ended June 30, 2009. For the period, the company reported net loss of operations of CAD 857,084 or CAD 0.01 per basic and fully diluted share on investment income of CAD 3,553,729 compared to net loss of operations of CAD 48,959,879 or CAD 0.63 per basic and fully diluted share on investment income of CAD 2,272,377 for the same period a year ago. The company reported net loss before net unrealized loss on foreign exchange and investments, non-controlling interest and income taxes of CAD 2,223,253, net loss before non-controlling interest and income taxes of CAD 2,522,936 and net loss before income taxes of CAD 1,557,084 compared to net loss before net unrealized loss on foreign exchange and investments, non-controlling interest and income taxes of CAD 450,116, net loss before non-controlling interest and income taxes of CAD 60,972,688 and net loss before income taxes of CAD 59,610,766 for the same period a year ago. Cash flow from operating activities was CAD 848,155 compared to cash flow used in operating activities of CAD 671,068 for the same period a year ago. The company reported loss on sale of investments of CAD 3,647,206 compared to gain on sale of investments of CAD 321,184 for the same period a year ago.

Urbana Corp said that it is seeking to acquire a 5% stake in National Stock Exchange of India Ltd. (NSE) for nearly INR 6 billion. Its investment firm, Caldwell Investment Management Ltd. has signed an agreement with financial intermediary, Infrastructure Leasing & Financial Services Limited (IL&FS) to identify banks and other institutional shareholders of NSE who are interested in selling their stake. Urbana is looking to raise funds in its home market through sale of shares and warrants to fund its purchase of the NSE stake. The firm said, “Urbana intends to use the net proceeds of the offering to purchase equity shares in NSE.” The offer document said Urbana expected to acquire the stake within a reasonable time following closing of its current prospectus offering. The firm noted, “While Urbana intends to use the net proceeds of the offering to purchase equity shares in NSE, there can be no assurance that equity shares in NSE will be available for purchase after the closing of the offering or that Urbana will be able to buy such shares on terms acceptable to Urbana.”

Urbana Corp., Annual General Meeting, Jun 25, 2009, at 11:00 Eastern Daylight. Location: Conservatory on Sixteen, 150 King Street West, 16th Floor, Toronto, Ontario,Canada. Agenda: To receive the financial statements of the company for the year ended December 31, 2008 together with the report of the auditors thereon; to elect directors; to appoint Deloitte & Touche LLP as the auditor of the company and to authorize the directors to fix the auditor's remuneration; to transact such other business as may properly come before the Meeting or any adjournment thereof .