Scorpio Capital Corp.

August 24, 2007 16:08 ET

Scorpio Announces Change of Name to "Prime City One Capital Corp."

TORONTO, ONTARIO--(Marketwire - Aug. 24, 2007) - SCORPIO CAPITAL CORP. (TSX VENTURE:SCE) ("Scorpio" or the "Corporation") is pleased to announce that its previously announced name change will take effect upon the opening of markets on Tuesday, August 28, 2007. At that time, the Corporation's name will be changed to "PRIME CITY ONE CAPITAL CORP." and the Corporation's common shares will begin trading under its new trading symbol, "PMO".

About Scorpio

Scorpio is the 100% parent of BDE Equities Inc. BDE is the owner of Kingside Mortgage Corporation, a mortgage brokerage business. BDE holds a 50% interest in one property in Richmond Hill, Ontario (the "Richmond Hill Property") upon which the Corporation is planning to build 141 condominium residential units. Scorpio also holds an equity interest in Hot Spot Hospitality Corp.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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

Contact Information

  • Scorpio Capital Corp.
    John Lorenzo
    President and Chief Executive Officer
    (416) 309-2521
    (416) 368-5506 (FAX)
    Scorpio Capital Corp.
    Randy Koroll
    Chief Financial Officer
    (416) 867-8275
    (416) 867-8081 (FAX)