Calotto Capital Inc.
TSX VENTURE : TTO.P

November 17, 2008 17:54 ET

Calotto Capital Inc. Announces Termination of Proposed Qualifying Transaction

TORONTO, ONTARIO--(Marketwire - Nov. 17, 2008) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES.

Calotto Capital Inc. (TSX VENTURE:TTO.P)("Calotto") regrets to announce that the proposed Qualifying Transaction with Meikle Group Inc. described in a press release on June 11, 2008, including the related amalgamation agreement and engagement letter, has been terminated due to market conditions. It is expected that Calotto's shares will resume trading on the TSX Venture Exchange shortly.

Calotto is actively engaged in identifying, reviewing and evaluating assets or businesses as potential Qualifying Transactions and which can meet the minimum listing requirements of the TSX Venture Exchange.

Investors are cautioned that trading in the securities of a capital pool company should be considered to be highly speculative. Calotto Capital Inc. is a capital pool company governed by the policies of TSXV. Its principal business is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this release.

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