Courtland Capital Corp.

May 10, 2013 18:41 ET

Courtland Capital Inc. Announces the Re-Filing of Audited Financial Statements for the Fiscal Year Ended March 31, 2012

CALGARY, ALBERTA--(Marketwired - May 10, 2013) - Courtland Capital Inc. (TSX VENTURE:CTD.H) (the "Corporation") announces that it re-filed its audited financial statements for the fiscal year ended March 31, 2012.

Subsequent to the issue of the Corporation's financial statements for the year ended March 31, 2012 and 2011 (the "Financial Statements"), management determined that the final payment received in 2012 for the 2011 sale of its subsidiary, as described in Note 6 of the Financials Statements, should have been classified in the Statement of Cash Flows as cash from investing rather than cash from operations. Therefore the Financial Statements previously issued have been re-filed in order to amend the Statement of Cash Flows to reflect the appropriate classification.

The Corporation has also re-filed amended Management's Discussion and Analysis for the 15 month fiscal year ended March 31, 2011 and the fiscal year ended March 31, 2012 to include the disclosure on the Corporation's audit committee and corporate governance as required by National Instrument 52-110 -Audit Committees and National Instrument 58-101- Disclosure of Corporate Governance Practices.

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."

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 release.

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