Banyan Coast Capital Corp.

January 25, 2011 12:43 ET

Banyan Coast Capital Corp. Announces Closing of Initial Public Offering

CALGARY, ALBERTA--(Marketwire - Jan. 25, 2011) -


Banyan Coast Capital Corp. ("Banyan" or the "Corporation") (TSX VENTURE:BYN.P) is pleased to announce that it has successfully completed its initial public offering ("Offering") raising gross proceeds of $300,000 pursuant to a prospectus dated November 23, 2010. An aggregate of 2,000,000 common shares in the capital of the Corporation (the "Shares") were subscribed for at a price of $0.15 per Share.

Mackie Research Capital Corporation (the "Agent") acted as the agent for the Offering. The Agent, and its designated sub-agents, received a cash commission equal to 10% of the gross proceeds of the Offering and an option to purchase 200,000 Shares at a price of $0.15 per Share for a period of 24 months from the date of listing of the Shares on the TSX Venture Exchange ("Exchange"). The Agent also received a corporate finance fee.

Banyan has received conditional listing approval from the Exchange for its Shares and expects that trading will commence on January 27, 2011 under the stock symbol BYN.P.

Banyan Board of Directors

The Board includes: Richmond Graham, President, Chief Executive Officer, Director, David M. Rutt, Chief Financial Officer, Corporate Secretary, Director, Mark Ayranto, Director and John Hilland, Director. The Banyan team has experience in resource development including mining & mineral exploration and oil & gas. On completing the Offering, Richmond Graham commented "The Board is pleased with the shareholder support through the Offering and we look forward to using our collective skill set to create value as we move Banyan forward".

About the Corporation

Banyan is a capital pool company ("CPC") within the meaning of the policies of the Exchange that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC policy, until the completion of its Qualifying Transaction, the Corporation will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.

Forward Looking Information

Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Corporation cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Corporation's control. Such factors include, among other things: risks and uncertainties relating to its ability to identify, evaluate and complete a Qualifying Transaction and other risks and uncertainties, including those described in the Corporation's prospectus dated November 23, 2010 filed with the Canadian Securities Administrators and available on Accordingly, actual and future events, conditions and results may differ materially form the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Corporation undertakes no obligation to publicly update or revise forward-looking information.

The Shares offered have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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