Essex Angel Capital Inc. Announces Termination of Private Placement and Postponement of Further Investment in Wellness Indica...

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Essex Angel Capital Inc. (TSX VENTURE:EXC) (the "Corporation") announces that,
further to its October 31, 2011 press release, as a result of unfavourable
market conditions, it will not proceed with its previously-announced proposed
private placement of common shares. As a consequence of the termination of the
proposed private placement, the Corporation has also determined not to proceed
with its further investment Wellness Indicators, Inc. ("Wellness") at the
present time. The Corporation has been advised by Wellness that Wellness secured
alternative financing to fund its current capital requirements.


The Corporation is continuing to evaluate and consider financing alternatives to
enable it to make additional investments in accordance with its investment
policy. 


This news release does not constitute an offer to sell or solicitation of an
offer to sell any of the Common Shares in the United States. The Common Shares
have not been and will not be registered under the United States Securities Act
of 1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to a U.S. Person unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available. 


This press release contains certain forward-looking statements about the
Corporation's future plans and intentions. Wherever possible, words such as
"may", "will", "should", "could", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict" or "potential" or the negative or other
variations of these words, or similar words or phrases, have been used to
identify these forward-looking statements. These statements reflect Management's
current beliefs and are based on information currently available to management
as at the date hereof. Forward-looking statements included or incorporated by
reference in this press release include statements with respect to future
securities offerings, the future investment by the Corporation in Wellness and
prospective future investments. 


Forward-looking statements involve significant risk, uncertainties and
assumptions. Many factors could cause actual results, performance or
achievements to differ materially from the results discussed or implied in the
forward-looking statements. These factors should be considered carefully and
readers should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press release are
based upon what management believes to be reasonable assumptions, the
Corporation cannot assure readers that actual results will be consistent with
these forward-looking statements. These forward-looking statements are made as
of the date of this press release, and the Corporation assumes no obligation to
update or revise them to reflect new events or circumstances, except as required
by law.