Twenty-Seven Capital Corp.

Twenty-Seven Capital Corp.

March 18, 2005 15:48 ET

Twenty-Seven Capital Corp. Receives Final Approval for its Qualifying Transaction and Completes Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TWENTY-SEVEN CAPITAL CORP.

TSX VENTURE SYMBOL: TSC.P

MARCH 18, 2005 - 15:48 ET

Twenty-Seven Capital Corp. Receives Final Approval for
its Qualifying Transaction and Completes Private
Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 18, 2005) -
Twenty-Seven Capital Corp. (the "Company") (TSX VENTURE:TSC.P) is
pleased to announce that it has received final approval from the TSX
Venture Exchange ("TSXV") for the acquisition of the uranium mineral
property assets of Strategic Metals Ltd. ("Strategic"), a public mineral
exploration company incorporated under the laws of British Columbia.

This acquisition of the uranium mineral property assets qualifies under
TSXV Policy 2.4 as the Company's Qualifying Transaction, particulars of
which were fully disclosed in the Company's December 17, 2004 and
February 7, 2005 press releases and the Company's filing statement dated
March 16, 2005, each of which are available for viewing at www.sedar.com.

In conjunction with the completion of the Qualifying Transaction, the
Company has closed its previously announced non-brokered private
placement of 1.5 million units, of which 750,000 units are on
flow-through basis at $0.45 per unit ("Flow-Through Units") and 750,000
units on a non-flow-through basis at $0.40 per unit ("Non-Flow-Through
Units"). Each Flow-Through Unit consists of one common share and one
non-transferable common share purchase warrant of the Company with each
warrant entitling the holder to acquire one additional common share at
the price of $0.75 each for a period of two years from the date of
issuance. Each Non-Flow-Through Unit consists of one common share and
one non-transferable common share purchase warrant of the Company with
each warrant entitling the holder to acquire one additional common share
at a price of $0.65 each for a period of two years from the date of
issuance. The Company received gross proceeds of $637,500. The
Flow-Through Units and the Non-Flow-Through Units are subject to a four
month hold period.

The proceeds of the private placement will be used to conduct a mineral
exploration program on the Pike Property, as recommended in the Pike
Property Report prepared by W. A. Wengzynowski, P.Eng., of Archer,
Cathro & Associates (1981) Limited, dated January, 2005, a copy of which
has been filed concurrently with this Press Release on SEDAR.

A finder's fee of $10,080 has been paid to Global Resource Investments
in connection with the private placement transaction. In addition, Quest
Securities Corporation ("Quest Securities"), for facilitating the
funding, has been issued a warrant to purchase up to 100,000 common
shares of the Company at a price of $0.45 per common share (the "Quest
Warrant") for a period of one year from the date of issuance and Quest
Securities has also received a $14,145 finder's fee.

As of March 21, 2005, the Company's board of directors will be comprised
of James M. Stephen, Alan R. Archer, A. Murray Sinclair and Robert C.
Carne. The officers of the Company will be as follows:

Robert C. Carne, President

James M. Stephen, CEO and Secretary

William Douglas Eaton, Chief Financial Officer and Chief Operating
Officer

As a result of the acquisition, the Corporation's trading symbol on the
TSX Venture Exchange has been changed from TSC.P to "TSC". The common
shares of Twenty-Seven Capital will resume trading as a Tier 2 issuer on
Monday, March 21, 2005.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Twenty-Seven Capital Corp.
    Richard Graham
    Director
    (604) 689-1428
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.