Yaletown Capital Corp.

June 24, 2011 17:33 ET

Yaletown Capital Corp. Closes Private Placement

RICHMOND, BRITISH COLUMBIA--(Marketwire - June 24, 2011) - Yaletown Capital Corp. ("Yaletown", the "Company") (TSX VENTURE:YCC) is pleased to announce the closing of a non-brokered private placement of 1,398,455 units ("Units") at $0.22 per Unit to raise gross proceeds of CAD$312,676. Each Unit will consist of one common share and one half common share purchase warrant (a "Warrant"). Each two warrants will be exercisable for two years into an additional common share at $0.28. The Private Placement is subject to TSX Venture Exchange acceptance. The Company will pay cash commission of 10% as finders' fees on the funds raised in connection with the private placement. The proceeds of the private placement will be used for continued product development and general working capital purposes.

All securities issued with respect to this private placement closing are subject to a four month hold period.

About Yaletown Capital Corporation and its wholly owned subsidiary, Freedom Bionics:

Yaletown Capital Corporation and its subsidiary, Freedom Bionics, specialise in the design of network-based safety, communications and cognitive assistance applications, products and services. Yaletown Capital Corporation is listed on the TSX Venture Exchange under the symbol "YCC". Information on the Company's new products is available on www.justfamilynetwork.com

Neither the 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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