Tuesday, 02 January 2024 12:17 GMT

Urban Infrastructure Secures Debt


(MENAFN- Newsfile Corp) Brampton, Ontario--(Newsfile Corp. - September 3, 2025) - Urban Infrastructure Group Inc. (TSXV: UIG) (" UIG " or the " Corporation "), a leading stage-one concrete and drainage infrastructure construction group, specializing in large scale new residential housing developments, would like to announce that it has entered into a loan arrangement with a related party (the " Lender ") whereby the Lender advanced to the Company an aggregate of $500,000 (the " Loan "). UIG will use the Loan for working capital and general corporate purposes.

The Loans bears interest at a rate of 12% per annum and is evidenced by a promissory note in favour of the Lender. The Loan is repayable on the date that is six months from issuance.

The Corporation also intends to issue to the Lender, subject to approval of the TSX Venture Exchange (the " TSXV "), as a loan bonus, an aggregate of 5,000,000 common share purchase warrants of the Corporation (" Bonus Warrant "). Each Bonus Warrant entitles the Lender to acquire one (1) common share in the capital of the Corporation at an exercise price of $0.05 per share for a period of one (1) year from the date of the promissory notes (the " Expiry Date ").

The Lenders are "related parties" (as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 ")) of the Corporation and, therefore, the Loan is a Related Party Transaction (as defined in MI 61-101). UIG is exempt from the formal valuation requirement and the minority approval requirement under MI 61-101 in respect of the Loan since, at the time of the Loan, the fair market value of the consideration for the Loan did not exceed 25% of UIG's market capitalization.

In connection with the Loan, the Corporation will be paying a finder's fee of $25,000 to an arm's length third party.

About Urban Infrastructure Group

UIG is a leading concrete and drainage infrastructure construction group engaged in the earliest stage of the construction process - known as Stage One. Urban Infrastructure Group specializes in large-scale, master-planned residential communities, with partners and customers behind some of Ontario's most significant residential development projects.

Connect with UIG:

MENAFN03092025004218003983ID1110014871

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Search