VANCOUVER, BC--(Marketwired - July 02, 2015) - Urban Communications Inc. (TSX VENTURE: UBN) announces that the Court of Appeal of British Columbia has granted the appeal of its customer relating to an arbitral award originally made January 3, 2013. An arbitrator made an order that the customer had properly exercised options to renew leases of a substantial number of fibre optic strands in a network connecting multiple sites of the customer. The Company appealed that award to the Supreme Court of British Columbia which ruled that the customer had not effectively exercised the options, and that the customer lost the right to exercise the options in the future. On appeal by the customer the Court of Appeal found that there was not a point of law to be appealed to the Supreme Court and that the Company should not have been given leave to appeal, notwithstanding its success in the Supreme Court once the appeal was heard, and ordered the reinstatement of the arbitrator's award.
The Company has 60 days to file an application for leave to appeal to the Supreme Court of Canada and will consider whether it wishes to do so in consultation with its legal counsel within that time.
ABOUT URBAN COMMUNICATIONS INC.
Urban Communications Inc. (TSX VENTURE: UBN), through its operating subsidiaries, is a telecommunications company providing a full suite of Internet, voice, video and broadband application products over its state-of-the-art carrier grade fibre optic network to commercial, residential and public sector customers. The Company's fibre optic network covers 200 km. across metro Vancouver and Victoria and has a potential serviceable market of 850,000 residential units and 80,000 commercial enterprises. Urban has recently launched high-speed Internet service to residential and commercial subscribers on its network at 1,000 Mbps (1 Gbps).
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