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Lateral Capital Corp. Announces Private Placement

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CALGARY, ALBERTA--(Marketwire - Nov. 2, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Lateral Capital Corp. (the "Corporation") (TSX VENTURE:LCP.P) is pleased to announce it has engaged Stonecap Securities Inc. and Wolverton Securities Ltd. as co-lead agents (the "Co-Lead Agents") for a private placement offering, on a commercially reasonable efforts basis, of up to 21,428,572 common shares at a price of 14 cents per common share for gross proceeds of up to CDN$3,000,000 (the "Offering").

The net proceeds from the Offering will be used for general working capital purposes. The Corporation has also granted the Co-Lead Agents an over-allotment option of 15 percent of the number of common shares sold under the Offering, which, if exercised in full, will result in additional gross proceeds of $450,000.

In connection with the Offering, the Corporation will pay the Co-Lead Agents a 10 percent cash commission and will also issue broker warrants representing 10 percent of the number of common shares issued under the Offering, with the broker warrants having an exercise price of 14 cents for a period of 24 months from the closing date of the Offering. In addition, the Corporation will pay the Co-Lead Agent's an administration fee and shall reimburse them for all expenses incurred in connection with the Offering.

The common shares and the broker warrants will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws. The terms of the Offering are subject to approval of the TSX Venture Exchange.

Cautionary Statements:

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state of the United States or any other jurisdiction outside of Canada in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act of 1933 and applicable state securities laws.

FOR FURTHER INFORMATION PLEASE CONTACT:
Lateral Capital Corp.
Corbin Blume
President, Chief Executive Officer, and Director
(403) 975-4009

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