GA Capital Corp.

TayCon Capital Corporation

October 20, 2009 12:13 ET

GA Capital and Taycon Capital Terminate Merger

TORONTO, ONTARIO--(Marketwire - Oct. 20, 2009) - GA Capital Corp. ("GA Capital") (TSX VENTURE:GAC.P) and TayCon Capital Corporation ("TayCon") (TSX VENTURE:TYC.P), capital pool companies ("CPC's") listed on the TSX Venture Exchange ("TSXV"), announced today the termination of the merger transaction between them announced on September 3, 2009.

Under TSXV policies, a CPC may be subject to suspension if it has not completed its Qualifying Transaction within 24 months of its original listing date. On September 11, 2009, the TSXV announced temporary relief measures to permit CPC's with a Qualifying Transaction deadline expiring between October 1, 2009 and March 31, 2010 to apply for an extension of its deadline date up to March 31, 2010. GA Capital and TayCon had Qualifying Transaction deadlines scheduled to expire in the first half of November 2009 and the merger transaction was being undertaken by the companies principally to obtain an extension of the deadline dates. Under TSXV policies, upon a merger of two or more CPC's, the Qualifying Transaction deadline date is extended until 12 months following the completion of the merger. As previously announced, both companies applied for and obtained extensions of their Qualifying Transaction deadline dates to March 31, 2010 under the TSXV's temporary relief measures and intend to independently pursue their own Qualifying Transaction. However, the companies reserve the right to re-institute this or enter into another CPC merger transaction if a suitable Qualifying Transition has not been identified with sufficient time to complete the Qualifying Transaction by March 31, 2010.

The common shares of each company, which were suspended from trading upon the merger announcement, are expected to resume trading on the TSXV shortly.

Neither TSX Venture Exchange nor its 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 release.

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