Metamedia Capital Corp.

Metamedia Capital Corp.

January 11, 2005 15:29 ET

Metamedia Capital Corp.: Clarification of Share Capitalization


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: METAMEDIA CAPITAL CORP.

TSX VENTURE SYMBOL: MME

JANUARY 11, 2005 - 15:29 ET

Metamedia Capital Corp.: Clarification of Share
Capitalization

CALGARY, ALBERTA--(CCNMatthews - Jan. 11, 2005) - Metamedia Capital
Corp. (TSX VENTURE:MME) ("Metamedia" or the "Company") has been advised
by numerous shareholders that erroneous share capitalization numbers are
being reported in some media, including the fundamentals page of the
Stockwatch website. The Company has contacted these media to request a
correction of their websites.

As per the Information Circular of the Company dated November 5, 2004
and the subsequent Exchange bulletin dated December 9, 2004 the issued
and outstanding shares of the Company was 16,610,002 shares upon
completion of the Qualifying Transaction.

Subsequent to the bulletin, Octagon Capital Corporation exercised its
Agent's Option for 300,000 shares. Accordingly, the correct number of
issued and outstanding shares as of today's date is 16,910,002.

As announced in the news release dated January 7, 2004 a further
1,625,000 shares of a possible 1,660,610 shares reserved under the 2004
Stock Option Plan have been granted, but are not yet issued.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Metamedia Capital Corp. or Metohos Business Magazine
    Mr. Alexandros Kostis
    President
    (403) 333-3000
    akostis@metohos.com
    The TSX Venture Exchange has neither approved nor disapproved the
    contents of this press release.