99 Capital Corporation

February 26, 2008 15:31 ET

99 Capital Corporation Announces Completion of Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2008) - 99 Capital Corporation (TSX VENTURE:WDG.P) ("99 Capital" or the "Company") announces today that it has successfully completed its initial public offering of 2,021,000 common shares at a price of $0.20 per share for aggregate gross proceeds of $404,200.00. Canaccord Capital Corporation ("Canaccord") acted as agent for the offering. As compensation for its services, Canaccord received cash commission equal to 10% of the proceeds of the offering, an administrative fee and an agent's option to purchase 202,100 common shares at a price of $0.20 per share for a period of twenty-four (24) months from the date (the "Listing Date") the shares are listed on the TSX Venture Exchange ("Exchange").

99 Capital has received conditional listing approval for its common shares on the Exchange and expects that trading will commence on or about February 28, 2008 under the symbol "WDG.P".

In addition to granting the agent's option to Canaccord, 99 Capital granted an aggregate amount of 352,100 incentive stock options to its officers and directors (each option exercisable for a period extending five (5) years from the Listing Date at a price of $0.20 per share) and an aggregate of 35,210 charitable options (17,605 to the War Amputations of Canada and 17,605 to Foundations for Education - Canada), each charitable option exercisable for ten (10) years from the Listing Date at a price of $0.20 per share.

99 Capital is a Capital Pool Company, which is governed by the policies of the Exchange. 99 Capital's principal business is therefore limited to the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction.

99 Capital also announces today that effective February 27, 2008 Christopher Kape will assume the roles of both CEO and CFO allowing Robbie Manis, former CFO, to serve as an independent member of the Company's Audit Committee. The Audit Committee will also be comprised of Sean Zaboroski, an independent director, and Mr. Kape.

As of the date hereof, including the shares issued pursuant to today's public offering, 99 Capital has 3,521,000 issued and outstanding common shares. Such amount includes the 1,500,000 escrowed common shares that were subscribed for by the Company's seed shareholders prior to today's offering (at a price of $0.10 per share).

Pursuant to the escrow arrangements, 10% of the escrowed shares will be released from escrow upon the closing of a Qualifying Transaction (if applicable) and an additional 15% will be released on the dates 6 months, 12 months, 18 months, 24 months, 30 months and 36 months following the closing of the Qualifying Transaction (if applicable). If applicable, however, subsequent to any Qualifying Transaction, the Resulting Issuer meets the Exchange's Tier 1 minimum listing requirements (either at the time any Qualifying Transaction closes or subsequently), the release of the escrowed shares will be accelerated.

For additional information about 99 Capital please refer to the Company's profile on www.sedar.com.

Cautionary Statement

This press release may contain certain forward-looking statements with respect to the Corporation. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from 99 Capital Corporation's expectations are various risks detailed from time to time in the filings made by 99 Capital Corporation with securities regulations.

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy and accuracy of this release.

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