Sparcap One Ltd. Announces Termination of Proposed Qualifying Transaction

Sparcap One Ltd. (the "Company") (TSX VENTURE:SON.P), a capital pool company,
announces the termination of its previously announced option agreement with
Griftco Corporation which was intended to constitute the Company's "Qualifying
Transaction" as defined by Policy 2.4 of the TSX Venture Exchange.


The Board of Directors has decided that it would be in the best interest of the
shareholders of the Company to permit a delisting of the Common Shares from the
TSXV and permit a cancellation of all of the seed shares of the Company that
were purchased by the directors. The Board of Directors has further decided that
after payment of any liabilities of the Company or establishing a reserve for
such liabilities, all of the remaining cash in the Company will be returned to
its shareholders in the form of a dividend or as advised by its tax advisors.
The Company will issue a press release within 30 days in which it will announce
the calculation and expected payment date of the distribution. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


Forward Looking Statements 

This news release contains certain "forward-looking information" within the
meaning of applicable securities law. Forward looking information is frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "may", "will", "would", "potential", "proposed" and
other similar words, or statements that certain events or conditions "may" or
"will" occur. These statements are only predictions. Forward-looking information
is based on the opinions and estimates of management at the date the information
is provided, and is 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 information. For a description of the
risks and uncertainties facing the Company and its business and affairs, readers
should refer to the Company's Management's Discussion and Analysis. The Company
undertakes no obligation to update forward-looking information if circumstances
or management's estimates or opinions should change, unless required by law. The
reader is cautioned not to place undue reliance on forward-looking information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sparcap One Ltd.
Michael Smyth
Director
(416) 367-3333


Sparcap One Ltd.
Kelly Ehler
Director
(905) 946-8444

Sparcap One Ltd (TSXV:SON.P)
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