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Urban Infrastructure Group Inc ( (TSE:UIG) ) just unveiled an update.
Urban Infrastructure Group Inc. has secured a $500,000 loan from a related party to support its working capital and general corporate purposes. The loan, which carries a 12% annual interest rate and is repayable in six months, also includes the issuance of 5,000,000 common share purchase warrants to the lender, subject to TSX Venture Exchange approval. This financial arrangement highlights UIG’s strategic efforts to bolster its financial resources and maintain its market position in the infrastructure construction industry.
More about Urban Infrastructure Group Inc
Urban Infrastructure Group Inc. is a leading construction group specializing in stage-one concrete and drainage infrastructure. The company focuses on large-scale, master-planned residential communities and partners with significant residential development projects in Ontario.
Average Trading Volume: 50,451
Technical Sentiment Signal: Sell
Current Market Cap: C$3.16M
For an in-depth examination of UIG stock, go to TipRanks’ Overview page.