Urban Select Capital Corporation (TSXV:CH) announces a share repurchase program. Under the program, the company will repurchase up to 2,045,145 shares, representing 7.20% of the common shares outstanding as of January 27, 2014. The price which the company will pay for any shares purchased by it will be the prevailing market price of such common shares on the exchange at the time of such purchase.

The maximum price at which the shares will be purchased is 20p. Purchases will be made on the open market through the facilities of the exchange. Repurchased shares will b cancelled.

The bid will be conducted in accordance with applicable securities laws and the policies of the exchange. The company believes that the bid will increase the proportionate share interest of, and be advantageous to, all remaining shareholders. The normal course purchases will also afford an increased degree of liquidity to current shareholders who would like to dispose of their shares.

The bid will expire on January 29, 2015, or such earlier time as the applicable bid is completed or at the option of the company. As of January 29, 2014, the company has 28,403,000 shares in issue.