Mr. Thomas Caldwell reports

MEMBERSHIP OF THE INTEGRATED GRAIN PROCESSORS CO-OPERATIVE INC. ("IGPC") VOTES IN FAVOUR OF PURSUING THE SALE OF THE BUSINESS OF IGPC

Membership of the Integrated Grain Processors Co-operative Inc. (IGPC) has voted in favour of pursuing the sale of the business of IGPC.

IGPC is one of Urbana Corp.'s private equityholdings.

Urbana owns approximately an 18-per-cent equity stake in IGPC.

On Wednesday, Dec. 6, 2023, the membership of IGPC voted in favour of its board of directors pursuing the sale of the business of IGPC.

Any actual sale of IGPC's business will require a process of sourcing prospective purchasers, due diligence, the acceptance of a purchase offer in a final vote as well as written approval by IGPC's membership.

The sale process is expected to take a minimum of six months.

About Integrated Grain Processors Co-operative Inc.

IGPC distills ethanol to blend with gasoline, reducing carbon emissions from fossil fuels. In 2018, IGPC completed a significant expansion that doubled its ethanol production capacity to 380 million litres annually. IGPC converts corn into ethanol, distiller grains (used as an ingredient in animal feed) and corn oil (used in biodiesel production and as an animal feed ingredient). As an added benefit, IGPC captures and sells 125,000 tons of carbon dioxide annually for alternative use, such as in the food and beverage processing industry. With nearly 500 members, IGPC is one of the largest agricultural co-operatives in Ontario, purchasing 900,000 metric tonnes of Ontario corn annually -- about 11 per cent of the provincial harvest.

About Urbana Corp.

Urbana is a diversified corporation with a focus on financial services, information services and innovative technologies. The long-term goal of Urbana is to seek and acquire investments for income and capital appreciation through a combination of public and private investments. The portfolio mix of actively managed publicly traded securities with private equity investments has generated significant long-term investment results.

We seek Safe Harbor.