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Urban Communications Inc. Announces Acquisition of Internet Services Provider at Simon Fraser University Residences.

Publication: M2 Presswire
Publication Date: 11-SEP-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-11 September 2008-Urban Communication Inc.: Urban Communications Inc. Announces Acquisition of Internet Services Provider at Simon Fraser University Residences(C)1994-2008 M2 COMMUNICATIONS LTD

RDATE:11092008

Burnaby, British Columbia CANADA -- Urban Communication Inc. (UBN - TSX Venture), is pleased to announce that, subject to regulatory approval, the Company, through its subsidiary, Urban Networks Inc., has entered into an agreement to acquire the subscriber base of Connect West Networks Ltd. ("Connect West"). Connect West is the provider of Internet service to all of the 1,850 student residence units at the Burnaby campus of Simon Fraser University ("SFU").

The purchase price is $275,000 payable by a combination of cash and the issuance of common stock of Urban Communications, at a total cost of approximately $150 per subscriber. Service to the residences is provided under the terms of...

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