Target Capital Announces Re-Listing and Write Down of Real Estate Asset

CALGARY, ALBERTA--(Marketwired - Oct. 6, 2016) - Target Capital Inc. ("Target") (TSX VENTURE:TCI)(CSE:TCI) announces that its subsidiary, Industrial Avenue Development Corporation, has re-listed its real estate project known as "The Landing at Langley" (the "Langley Project"), with a new realtor at a list price of $2,488,000.

As of September 30, 2016, Target attributes a value of $3,699,688 to The Langley Project and anticipates that the value of The Langley Project will be written down in Target's forthcoming financial statements based on the new listing price. The write-down will be finalized for Target's second quarter fiscal 2017 and is subject to board approval of the interim financial statements.

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.