VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/20/13 -- Urban Select Capital Corp. (TSX VENTURE: CH) announced the following corporate updates today.
As per the terms of its cooperative agreement with Nanjing Joymain Sci. & Tech Holdings Ltd. ("Joymain"), one of China's leading high-tech healthcare groups, dated October 16, 2012, Urban Select received a fee on May 29, 2013 to serve in an advisory role to assist and manage the mergers and acquisitions initiatives for Joymain in the Canadian healthcare sector.
In addition, per the terms of its agreement with Eidam Diagnostics Corporation ("Eidam") dated March 22, 2013, in which Urban Select agreed to serve in an advisory role to assist Eidam in leading and managing the distribution rights to the CRT 2000 in Asia, Eidam has subsequently executed an agreement with Tianmu Hot Spring Tourism Investment Group Ltd. ZhuHai ("Tianmu"), one of China's largest hot springs resort operators with 23 hot springs resort projects in more than 10 provinces. Urban Select expects that the first twenty CRT 2000 devices will be installed in hospitals and at the Tianmu Hot Springs by the last quarter of 2013.
Finally, Urban Select is pleased to announce that in accordance with the terms of its agreement with Nickel North Exploration Corp. ("NNX") dated September 24, 2012, Urban Select has successfully fulfilled its role as an advisor in the recent closing of NNX's $5 million flow- through financing announced on May 30, 2013. For more information regarding the recent closing, please visit www.nickelnorthexploration.com.
Urban Select continues to explore financing opportunities in Canadian gold exploration and is currently working with its Asian strategic partners, including one of China's leading exploration companies, Shandong No.3 Exploration Institute of Geology and Mineral Resources, and other gold producers to initiate on-site visits in July and August 2013.
Joseph F. Fodor, Chairman of the Board of Directors of Urban Select Capital Corporation, stated, "We are very proud to have engaged the leading healthcare and mining financers in China with the goal of building strong bilateral relations between Asia and Canada. These relationships culminated in the successful closing of Nickel North Exploration's $5 million flow-through financing. We remain bullish on China as our work with both the Joymain Group and Eidam Diagnostics and its latest partner Tianmu Hot Springs has materialized into what we hope will become a mutually beneficial partnership. As the global economy continues to improve, we feel very strongly that China will once again lead worldwide manufacturing and consumption growth, particularly in the healthcare and well-being fields."
About Nanjing Joymain Sci. & Tech Holdings Ltd. ("Joymain")
Joymain was founded in 1993and has a 17-year history of offering high-technology and world-class products based on years of scientific research. Joymain functions as a large, high-tech health enterprise with over 6,000 distribution outlets and annual sales of around RMB5billion. The company is powered by scientific research, production, sales, and services and maintains a sales force of more than 500,000 distributors in China and oversea. For more information, please refer to http://www.joylifeglobal.com/
About Eidam Diagnostics Corporation
Eidam Diagnostics Corporation is a privately held Canadian company headquartered in Richmond, British Columbia. Eidam's primary product is the CRT 2000 Thermographic System (the "Product"), which is a non-invasive, radiation-free, reproducible thermographic tool that measures the temperature of pre-determined skin points and analyzes such data to provide a healthcare practitioner with information that may be indicative of irregular body function. The Product has obtained the CE mark, is available for sale in the United States based upon its FDA premarket notification (510(k)) and is also certified as a Class II medical device by the Chinese health authority. The Product was developed based on the intellectual property acquired from Capital 21 Holdings Corporation, a related corporate entity to Eidam. For more information, please visit http://www.eidam.com/.
About Tianmu Hot Spring Tourism Investment Group Ltd.
Tianmu Hot Springs ("Tianmu") was founded and is operated by Tianmu Hot Spring Tourism Investment Group Ltd. Zhuhai, one of China's leading tourism and resort chain industry companies specializing in hot springs health preservation and leisure resorts. Tianmu operates 23 hot springs resort projects in more than 10 provinces. Each Tianmu hot springs resort includes a highly rated resort hotel, indoor and outdoor hot spring health areas, large scale multi functional conference centers, a health spa, and a golf driving range. Tianmu Hot Springs adheres to the concepts of "China's True Mountain Water Hot Springs" and "Approaching Nature, Enjoying Nature and Protecting Nature."For more information, please visit http://www.tianmu.net/.
About Urban Select Capital Corporation
Urban Select Capital Corporation is an investment issuer focused on investing growth capital into private and public companies in a broad range of sectors including renewable energy, natural resources, chemicals, agriculture and consumer retail services. Urban Select's management team is composed of investment professionals combining an Asian background with Western education and extensive experience in investment banking, venture capital and fund management in Canada, China and the U.S.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Urban Select Capital Corporation
Chief Financial Officer and Corporate Secretary
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