Chesstown Capital Inc.

March 05, 2008 14:13 ET

Chesstown Capital Inc. (TSX-V:CHC.P) Announces That it has Elected not to Proceed With Proposed Transaction

BURLINGTON, ONTARIO--(Marketwire - March 5, 2008) - On January 10th, 2008, Chesstown Capital Inc. ("Chesstown") (TSX VENTURE:CHC.P) requested that the TSX-V halt trading in its shares pending an announcement. At that time, Chesstown had entered into a letter of intent for a transaction which was hoped would constitute its Qualifying Transaction under TSX-V policies. After conducting further due diligence, Chesstown has elected not to further pursue that proposed transaction. Chesstown will request the TSX-V reinstate trading in its shares as soon as possible and will continue its search for opportunities to constitute its Qualifying Transaction.

For Investors

This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The company cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what the company currently foresees. Discussion of the various factors that may affect future results is contained in the company's recent filings, available on SEDAR.

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

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