Added Capital Corp.
TSX VENTURE : ACI.P

December 22, 2006 13:28 ET

Added Capital Corp.: Press Release

CALGARY, ALBERTA--(CCNMatthews - Dec. 22, 2006) - Added Capital Corp. (TSX VENTURE:ACI.P) (the "Corporation"), announces that it has entered into an agreement with Blackmont Capital Inc. ("Blackmont"), whereby Blackmont has agreed to act as sponsor for the Corporation's proposed Qualifying Transaction and will proceed with the required due diligence and filing of a Sponsor Report with the TSX Venture Exchange ("Exchange") in accordance with Exchange policy. For its services in acting as sponsor, Blackmont will be paid a fee of $40,000 and will be reimbursed for all reasonable disbursements and for its legal fees and expenses. The Corporation's proposed Qualifying Transaction, the acquisition by the Corporation of certain oil and gas properties currently owned by Packard Gas Company, was more fully described in its press release of December 7, 2006.

The Corporation also announces that it has entered into an engagement letter with Blackmont, whereby Blackmont has agreed to act as the Corporation's agent, on a commercially reasonable efforts basis, for a private placement of up to 2,000,000 Common Shares of the Corporation at a price of $0.25 per Common Share, for gross proceeds of up to $500,000. The net proceeds are intended to be expended to increase production of the oil and gas properties to be acquired pursuant to the Qualifying Transaction. The engagement of Blackmont to act as agent for the Corporation with respect to the proposed private placement is contingent upon and subject to, among other things, the completion of the proposed Qualifying Transaction referred to above and receiving all necessary regulatory approvals. As compensation in acting as agent, Blackmont will receive a corporate finance fee of $10,000, a commission equal to 10% of the gross proceeds received pursuant to the private placement and an option to purchase a number of Common Shares of the Corporation equal to 10% of the Common Shares sold pursuant to the private placement exercisable at a price of $0.25 per Common Share for a period of 24 months from the closing date of the private placement.

The Corporation also announces that it has been advised by Packard that Packard and some of the proposed directors and officers, being nominees of Packard, will be purchasing the 1,000,000 escrowed shares from the current directors of the Corporation as referred to in the Corporation's Press Release of December 7, 2006.

The Corporation also announces that it has been advised by Packard that the audited financial statements relating to the oil and gas properties to be acquired pursuant to the Qualifying Transaction are in the process of being prepared. Details of the audited financial statements will be announced once they are available.

Blackmont Capital Inc., subject to completion of satisfactory due diligence, has agreed to act as sponsor in connection with the transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the transaction or the likelihood of completion.

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

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