VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 18, 2016) – Urban Select Capital Corp. (TSX VENTURE:CH) announced today that it has entered into a cooperative partnership with ARTContent Publishing Limited (“ARTContent”) as of May 18, 2016.
Under the terms of the agreement, Urban Select Capital has been retained as business development advisors to ARTContent to assist in the funding of the ARTContent Media and Services Platform and for any future ARTContent Limited Liability Art Partnerships. The limited liability art partnerships are unique, tax efficient investment vehicles that allow Canadian investors to deduct the majority of their investments in the first year, to have the option to earn a return of capital in the second year and to realize capital appreciation on a portfolio of art work that has been directly commissioned from a group renowned artists who produce original artworks exclusively for each partnership. The GP for each of the partnerships acts as the wholesale distributor of these artworks to collectors, museums, and commercial galleries with whom the GP has long term commercial relationships. The first in the 2016 Art LLP Series of limited liability art partnerships are now available and are expected to be closed by mid to late 2016. The 2017 Art LLP Series will be announced shortly and followed thereafter each year with further annual offerings.
John King Burns, The Chairman of Urban Select Capital commented, “We are extremely excited to work together with Frans Wynans and his team of renowned art advisors and dealers on this partnership in the fine arts. Mr. Wynans has worked with world famous artists including Andy Warhol to create timeless, invaluable works of art that have been extremely lucrative as investments. These Partnerships, which will include unique works of art from the most highly sought after contemporary artists in the world today, provide a unique opportunity for us to introduce a product, that offers investors the tax benefits of (resource flow through shares) in the first year, a return of capital in year two and the opportunity to earn superior returns from ownership of fine art. The returns generated from investments in the fine art market place have outperformed the S&P over the last ten years with the caveat that past returns are not indicative of future performance”
Urban Select Capital also announced that its Board Member, Mr. Joseph Fodor, has tendered his resignation effective May 16, 2016, however will remain involved with the company as an advisor. Mr. Fodor resigned to pursue another professional opportunity and had no disagreements with the Company. Urban Select would like to thank Mr. Fodor for his service to the Company.
About Urban Select Capital Corporation
Urban Select Capital Corporation is a TSX Venture Exchange listed investment issuer focused on investing growth capital into private and public companies in a broad range of sectors including consumer retail services, healthcare services, entertainment, media, art and leisure companies and fashion. 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.
David Yoo
Chief Financial Officer
(604) 689-0618