SOURCE: Key Capital Corporation

December 31, 2007 11:33 ET

Key Capital Reports Progress

NEW YORK, NY--(Marketwire - December 31, 2007) - Key Capital Corporation (PINKSHEETS: KCPC) advises that the Company has recently acquired fifteen million shares and fifteen million options in Zodiac Capital Limited, an investment banking group associated with Peter Boonen, the Company's President, and with Dr Allen Bain, also a director of Key Capital. Zodiac Capital is now listed on the National Stock Exchange in Australia following capital raisings totalling AUD$3,500,000. At current market value this Zodiac Capital shareholding is valued at approximately AUD$3,000,000.

Key Capital, through the Zodiac Capital interest, and for a nominal consideration has also acquired fifteen million shares in Colossal Mining Limited which is preparing for an AUD$20 million capital raising and listing on the Australian Stock Exchange in March 2008. Colossal Mining has contracted to acquire extensive iron sand deposits in the Philippines with the potential to yield in excess of a target 1.75 billion tons of iron ore. At the expected Colossal Mining IPO price the Key Capital interest is expected to be valued at approximately AUD$3,000,000.

Through its Zodiac Capital shareholding, Key Capital also expects to achieve further strategic shareholdings in planned future public companies to be listed through Zodiac Capital. Key Capital President Mr Peter Boonen is the Managing Director of Zodiac Capital, Dr Allen Bain is a Director of both Companies and Zodiac Capital is chaired by Mr Robin Armstrong, the Executive Director of Corporate at Findlay Securities Limited, a top 15 stockbroking business in Australia that averages over AUD$2 Billion a month in share transaction turnover.

Safe Harbor Statement

The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projections and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company -- although given in good faith -- are inherently uncertain and actual events and/or results may differ materially.

Contact Information

  • For further information

    Contact:
    Dr Allen Bain
    650-241-1888