Urbana Corporation Declaration of Dividend

Urbana Corporation Announces its Fifth Consecutive Dividend Increase

This Year's Dividend is 9% Higher than Last Year's

/NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./

TORONTO, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Urbana Corporation ("Urbana" or the "Corporation") (TSX and CSE: URB, URB.A) announces that today its Board of Directors has declared a dividend of twelve cents ($0.12) per share (the "2024 Dividend"), on the issued and outstanding Common and non-voting Class A shares of Urbana. The 2024 Dividend represents a 9% increase from the dividend the Corporation paid in 2023, which was $0.11 per share. The dividend is payable on the 31^st day of January, 2024 to the Shareholders of record at the close of business on the 17^th day of January, 2024. The ex-dividend date is the 16^th day of January, 2024.

Eligible Dividend Designation - pursuant to subsection 89(14) of the Income Tax Act of Canada (ITA) each dividend paid by Urbana qualifies as and is designated an eligible dividend for Canadian income tax purposes, as defined in subsection 89(1) of the ITA.

For a copy of Urbana's current dividend policy, please visit https://www.urbanacorp.com/

On behalf of Urbana's Board of Directors
Thomas S. Caldwell, C.M.

Please contact Elizabeth Naumovski, Investor Relations, at 416-595-9106 or [email protected] for further information.

Certain statements in this news release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Urbana to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Unless required by applicable securities law, Urbana does not assume any obligation to update these forward-looking statements.

150 KING ST. W., SUITE 1702, P.O. Box 47, TORONTO, ONTARIO M5H 1J9 TEL: 416-595-9106 FAX: 416-862-2498 www.urbanacorp.com