Fareport Capital Inc.

Fareport Capital Inc.

August 20, 2007 10:12 ET

Fareport Obtains Conditional Approval for Transactions

TORONTO, ONTARIO--(Marketwire - Aug. 20, 2007) - Fareport Capital Inc. ("Fareport" or the "Company") (TSX VENTURE:CAB) wishes to provide
an update with regards to its compliance with Ontario Securities Commission("OSC") Policy 57-603.

Fareport has obtained conditional TSX Venture Exchange approval to proceed with transactions to refinance and restructure the Company (the "Transactions") as disclosed in the Fareport news release dated July 6, 2007.

The management and insider cease trade order (the "MCTO")
imposed pursuant to OSC Policy 57-603 continues to be in effect and shall continue until financial statements for the most recent quarter are filed. The MCTO prohibits directors, officers and insiders of Fareport from trading in securities of Fareport. Fareport anticipates that the financial Statements will be filed in conjunction with its year end audited financials and prior to the Transactions being completed.

Fareport will continue to provide updates on these and related matters
in accordance with OSC Policy 57-603.

Fareport cannot guarantee that forward-looking statements contained in
this news release will materialize. Nor is it possible for Fareport to
commit itself to updating information about risks and other factors
pertaining to its business that might appear in this or any other public disclosure documents.

Capitalization Report for Fareport Capital Inc
Shares Issued: 38056653
Shares Escrow: 0

TSX Venture closing price for Fareport Capital Inc.
Date: 2007/08/16
Closing Price: 0.015

Neither the TSX Venture Exchange, nor any other Regulatory Authority has approved or disapproved of the contents of this news release.

Contact Information

  • Fareport Capital Inc.
    Emlyn David
    (416) 750-1167 Ext. 400