Urban Select Announces Completion of Plan of Arrangement

Urban Select Capital Corporation (TSX VENTURE:CH) (the "Company") is pleased to
announce that it has completed its previously announced plan of arrangement (the
"Arrangement") with Granja Gold Inc. ("Granja") and Urban Select Exploration
Inc. ("Urban Exploration"). Shareholder and final court approval for the
Arrangement were obtained on December 19, 2011 and December 21, 2011,
respectively and the effective date of the plan of arrangement was February 29,
2012. Refer to the Company's Information Circular dated November 18, 2011, for
additional information concerning the Arrangement.


The purpose of the Arrangement was to restructure the Company by creating two
companies, Granja and Urban Exploration, which the Company believes will be
beneficial to the shareholders of the Company, as it is expected that each of
Granja and Urban Exploration will enter into definitive agreements to acquire a
business following completion of the Arrangement. Management also believes that
by creating these two new companies and providing the Company's shareholders
with interests in both of these companies, shareholder value will be enhanced. 


Pursuant to the Arrangement, a total of 1,420,150 common shares in the capital
of Granja and a total of 1,420,150 common shares in the capital of Urban
Exploration have been issued, on a pro-rata basis, to the Company's
shareholders.


ABOUT URBAN SELECT 

Urban Select Capital Corporation is global investment management, financial
advisory and private equity firm 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.


Caution Regarding Forward-Looking Statements - This news release contains
certain forward-looking statements, including statements regarding the business
of the Company, Granja and Urban Exploration. These statements are subject to a
number of risks and uncertainties. Actual results may differ materially from
results contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties and should not
place undue reliance on such forward-looking statements. The Company does not
undertake to update any forward looking statements, oral or written, made by
itself or on its behalf except as required by law.