Calotto Capital Inc.
TSX VENTURE : TTO.P

October 22, 2009 22:54 ET

CORRECTION FROM SOURCE: Calotto Capital Inc. Files Supplement to Filing Statement

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2009) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES.

A correction from source is being issued with respect to the release that was disseminated on October 22, 2009 at 9:19 pm ET. The press release should have stated "gross proceeds of $1,696,500" in the second paragraph instead of "gross proceeds of $1,796,500." The complete and corrected release follows.

Calotto Capital Inc. (TSX VENTURE:TTO.P) ("Calotto") announced today that it received conditional approval from the TSX Venture Exchange (the "TSXV") today for the revised terms of its qualifying transaction involving Hamilton Thorne, Inc. ("Hamilton Thorne") previously announced on May 29, 2009. Calotto had filed a CPC Filing Statement dated August 31, 2009 (the "Filing Statement") on SEDAR in respect of the previously announced merger (the "Merger") involving Hamilton Thorne pursuant to a merger agreement (the "Merger Agreement"). Today Calotto filed a Supplement to the Filing Statement (the "Supplement") on SEDAR which discloses certain modifications to the transaction and material updates to the business and affairs of Calotto, Hamilton Thorne or the Resulting Issuer (as defined in the Filing Statement) since the date of the Filing Statement.

Hamilton Thorne and the Agent have negotiated and agreed upon a different price for the previously announced marketed private placement ("Private Placement"). Immediately prior to the closing of the Private Placement, it is expected that debt from a prior bridge financing by Hamilton Thorne in the amount of $503,500 shall be converted to equity on the same terms as the Private Placement, and that Hamilton Thorne, the Agent and Calotto shall enter into an agency agreement pursuant to which Hamilton Thorne will issue up to 12,311.198 Hamilton Thorne units at a price equal to $121.556 per unit for total gross proceeds of $1,696,500 (including gross proceeds raised upon exercise of the Agent's over-allotment option to raise an additional $200,000).

The proposed closing date for the transaction is October 28, 2009. Details of the proposed transaction are available in the Filing Statement and the Supplement. The completion of the Private Placement is dependent on the approval of third parties, including regulatory approval of the TSX Venture Exchange and appropriate Board and lender approval, and is therefore beyond the reasonable control of Calotto, Hamilton Thorne or any other parties which are non-arm's length to either company. The completion of the Private Placement is also subject to a number of other conditions including the satisfactory completion of the agent's due diligence and execution of formal documentation including an agency agreement between the Agent and Hamilton Thorne.

Shareholders are encouraged to review such documents which are available under Calotto's profile on SEDAR at www.sedar.com.

Investors are cautioned that trading in the securities of a capital pool company should be considered to be highly speculative. Calotto Capital Inc. is a capital pool company governed by the policies of TSXV. Its principal business is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents or accuracy of this release. Neither the TSX Venture Exchange norits 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 news release.

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