Humboldt Capital Corporation
TSX VENTURE : HMB

Humboldt Capital Corporation

October 23, 2007 16:28 ET

Humboldt Capital Corporation Increases Interest in Tuscany Energy Ltd.

CALGARY, ALBERTA--(Marketwire - Oct. 23, 2007) - Humboldt Capital Corporation (TSX VENTURE:HMB) advises that it has acquired an additional 4,000,000 common shares of Tuscany Energy Ltd. (TSX VENTURE:TUS) as a part of a non-brokered private placement by Tuscany of 10,000,000 common shares on a flow-through basis at a price of $0.10 per share. As a result, Humboldt together with its major shareholder, Robert W. Lamond, will own and control an aggregate of 11,085,000 common shares or 30.3% of the outstanding shares of Tuscany. Humboldt may be considered to be acting jointly or in concert with Mr. Lamond under applicable securities laws.

The acquisitions were for investment purposes and each of Humboldt and Robert W. Lamond may, from time to time, as market opportunities exist or develop, increase or decrease their beneficial ownership, or control and direction over, Tuscany's common shares as permitted by securities law.

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

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

Contact Information

  • Humboldt Capital Corporation
    R.W. Lamond
    Chairman of the Board
    (403) 269-9889
    (403) 269-9890 (FAX)
    or
    Humboldt Capital Corporation
    C.A. (Tony) Teare
    Executive Vice President
    (403) 269-9889
    (403) 269-9890 (FAX)
    Website: www.humboldtcapital.com