Westdale Construction Co. Ltd acquired an additional 27.7% stake in Urbanfund Corp. from Reznick Construction Limited for CAD 10 million.
June 20, 2024
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Westdale Construction Co. Ltd acquired an additional 27.7% stake in Urbanfund Corp. (TSXV:UFC) from Reznick Construction Limited for CAD 10 million on June 21, 2024. Westdale Construction purchased 14,761,901 Common Shares (representing 27.7% of the issued and outstanding Common Shares on a non-diluted basis) at a price of approximately CAD 0.68 per Common Share. As a result of the transaction, Westdale Construction owns or controls 40,556,280 Common Shares and 7,425,000 Preferred Shares, representing 76.1% of all of the issued and outstanding Common Shares and 100% of the issued and outstanding Preferred Shares on a nondiluted basis.
Westdale Construction Co. Ltd completed the acquisition of an additional 27.7% stake in Urbanfund Corp. (TSXV:UFC) from Reznick Construction Limited on June 21, 2024.
Urbanfund Corp. is a Canada-based real estate development and operating company. The Company is focused on identifying, evaluating and investing in real estate or real estate related projects. The Company owns, develops and operates a real estate portfolio, which is focused on a mix of both residential and commercial properties. Its assets are located in Toronto, Belleville, Kitchener, London, and Brampton Ontario and in Montreal and Quebec City, Quebec and Dartmouth, Nova Scotia. Its portfolio includes One Bloor, 200 Van Horne Avenue, North Front Centre, Westborough Plaza and Edvac. Its 200 Van Horne Avenue is a rental building, which is located in Toronto, Ontario, and offers two-, three- and four-bedroom townhouse units. Its One Bloor is a multi-use complex that is located in Toronto, Ontario. Its North Front Centre is a commercial and retail building that is located in Belleville, Ontario. Its Westborough Plaza is a commercial and retail building that is located in London, Ontario.
URBANFUND CORP. 
