Latigo Capital Corporation

September 23, 2009 18:14 ET

Latigo Capital Corporation: Announces Extension of Deadline to Complete a Qualifying Transaction and Grant of Stock Options

CALGARY, ALBERTA--(Marketwire - Sept. 23, 2009) - Latigo Capital Corporation (TSX VENTURE:LTG.P) ("LCC" or the "Corporation") announced today that the TSX Venture Exchange (the "TSXV") has granted an extension to the Corporation to complete its Qualifying Transaction, as defined under TSXV Policies, from October 12, 2009 to March 31, 2010.

In addition, LCC has granted stock options to purchase 182,500 common shares of LCC to a director of the Corporation. Pursuant to LCC's stock option plan, the stock options were granted at an exercise price of $0.20 per common share, which is the price of the common shares issued pursuant to LCC's initial public offering. Subsequent to this grant, the Corporation has stock options to purchase 730,000 common shares outstanding pursuant to its stock option plan. The Corporation has a 10% "rolling" stock option plan which reserves for issuance on exercise of stock options a maximum of 10% of the number of common shares of the Corporation outstanding from time to time.

About Latigo Capital Corporation

LCC, a capital pool company within the meaning of the policies of the TSXV, was incorporated in April 2007 and was listed on the TSXV in October 2007. LCC does not have any operations and has no assets other than cash. LCC's business is to identify and evaluate businesses and assets with a view to completing a Qualifying Transaction under the policies of the TSXV.

Neither the TSX Venture Exchange nor its Regulation Service 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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