Lateral Capital Corp. Announces Acquisition of Vector Exploration Corp., and Term Loan

NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.


Lateral Capital Corp. ("Lateral" or the "Company") (TSX VENTURE:LCP) announces
that it has completed the previously announced acquisition of Vector Exploration
Corp. ("Vector"), a private Alberta company, for an aggregate purchase price of
$3,525,000 comprised of cash in the amount of $750,000 and the issuance of an
aggregate of 15,416,667 common shares in the capital of the Company ("Common
Shares") at a deemed price of $0.18 per Common Share (the "Vector Acquisition")
(see news releases dated February 16, 2014, February 28, 2014 and May 1, 2014
available on SEDAR at www.sedar.com). Upon closing of the Vector Acquisition the
Company completed an amalgamation with Vector, and will continue as "Lateral
Capital Corp."


Pursuant to an amending agreement dated May 30, 2014 amending the terms of the
acquisition, Vector and the shareholders of Vector waived Lateral's obligations
under the purchase and sale agreement (the "Purchase and Sale Agreement") in
respect to the payment of a non-refundable deposit of approximately $130,000 and
a work commitment amount of approximately $267,000 payable on or before March 7,
2014. In addition, the condition of the Purchase and Sale Agreement requiring
Lateral to complete a subsequent financing of more than $30.0 million of debt or
$45.0 million of equity has been waived by Vector and the shareholders of
Vector.


Completion of the Vector Acquisition provides Lateral with a 50% earned interest
in two significant land blocks, consisting of 376,000 acres (580 sections over
16 townships) in the east Saskatchewan portion of the Williston Sedimentary
Basin (the "Lands"). Based on available public records searches of recent
Saskatchewan Crown land sales, the value of the lands may be up to approximately
$400 per acre. The Lands represent the largest exploration permits within the
province of Saskatchewan and hold the potential for light oil accumulations. The
oil bearing structures observed from the initial seismic data and airborne
surveys are similar to those found in the Red River "Tyvan" oil pool located to
the south of the Lands.


The Term Loan

The Company also announces that it has closed a first lien, senior secured
120-day term loan agreement with Shadow Tree Income Fund A L.P. ("Shadow Tree"),
a fund managed by Shadow Tree Capital Management LLC, for US$3,533,000 (the
"Term Loan"). Proceeds from the Term Loan were used to complete the Vector
Acquisition and will be used to fund certain costs, fees and expenses related to
the Term Loan, other transactions, and future acquisitions and for working
capital with respect to its existing Medicine Hat Assets and the Lands. The Term
Loan is subject to final TSX Venture Exchange approval.


The term of the Term Loan is 120 days and is repayable anytime during that
period. The principal amount of the Term Loan was reduced at closing by an
issuance discount of US$283,000 and a structuring fee equal to 2% of the Term
Loan or US$70,660, providing the Company with US$3,179,340 in immediately
available funds. The Term Loan is secured by: (i) a first priority secured lien
on the Medicine Hat Assets; (ii) a first priority secured lien on the previously
announced oil and gas assets located in southeast Saskatchewan acquired by
Lateral contemporaneously with closing of the Term Loan (as set forth below);
and (iii) a general security agreement granting a security interest over all
present and after-acquired personal property of Lateral. No securities of the
Company were issued in connection with the Term Loan, and no guarantees were
required. If the Term Loan is not fully repaid by September 1, 2014, the Company
will be obligated to grant to Shadow Tree a 1.0% gross overriding royalty
interest in perpetuity on all of the Company's current and future production
from the Medicine Hat Assets and the Lands. In connection with the Term Loan,
the Company has agreed to pay a finder's fee to an arm's-length finder for
services provided to Lateral equal to a cash payment of 4.5% of the Term Loan.


Proposed Equity and Debt Financings

As previously announced, Lateral is also proposing to complete a private
placement of debt or equity securities in certain of the provinces of Canada and
in the United States. D&D Securities Inc. will continue to provide advisory
services to support Lateral's continued growth plans through opportune accretive
acquisitions in the Canadian and U.S. Markets.


Trading of the Common Shares on the TSX Venture Exchange was halted at the
request of the Company pending completion of the Vector Acquisition and closing
of the Loan. Trading is expected to resume immediately.


About Lateral 

Lateral's business strategy is to seek to provide shareholders with growth by
exploiting existing assets in a financially disciplined manner and by acquiring
additional (predominantly) light oil assets. As part of its corporate strategy
of acquiring additional assets, the Company is typically in the process of
evaluating several potential transactions at any time which individually or
together could be material. The Company cannot predict whether any current or
future opportunities will result in one or more transactions involving the
Company. The Company may complete financings of equity or debt or issue equity
or utilise debt facilities to finance all or a portion of any such potential
acquisitions.


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. 


This press release does not constitute an offer of the securities of the Company
for sale in the United States. The securities of the Company have not been
registered under the United States Securities Act of 1933, (the "1933 Act") as
amended, and may not be offered or sold within the United States absent
registration or an exemption from registration under the 1933 Act. 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 in which such
offer, solicitation or sale would be unlawful.


Cautionary and Forward-Looking Statements

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. These statements
relate to future events or future performance. All statements other than
statements of historical fact may be forward-looking statements or information.
More particularly and without limitation, this news release contains
forward-looking statements and information relating to the future acquisitions
including the completion thereof, the proposed private placements of debt and
equity including, without limitation, the proposed terms thereof, the completion
of such financings, and the Company's growth strategy and opportunities
including the Company's exploitation plans with respect to its existing assets
and the acquisition of additional assets (including the nature of any such
assets and the materiality of any such acquisition or combination of
acquisitions). The forward-looking statements and information are based on
certain key expectations and assumptions made by management of the Company,
including, without limitation, the Company's ability to obtain financing on
acceptable terms or at all and its ability to complete future acquisitions on
acceptable terms or at all. Although management of the Company believes that the
expectations and assumptions on which such forward looking statements and
information are based are reasonable, undue reliance should not be placed on the
forward-looking statements and information since no assurance can be given that
they will prove to be correct.


Forward-looking statements and information are provided for the purpose of
providing information about the current expectations and plans of management of
the Company relating to the future. Readers are cautioned that reliance on such
statements and information may not be appropriate for other purposes, such as
making investment decisions. Since forward-looking statements and information
address future events and conditions, by their very nature they involve inherent
risks and uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These include, but
are not limited to, the Company's ability to service its obligations under the
Term Loan, the Company's ability to efficiently and successful explore and
develop the Lands, the Company's ability to identify and complete additional
suitable acquisitions to further the Company's growth as well as risks
associated with the oil and gas industry in general such as operational risks in
development, exploration and production delays or changes in plans with respect
to exploration or development projects or capital expenditures; the uncertainty
of reserve estimates; the uncertainty of estimates and projections relating to
reserves, production, costs and expenses; health, safety and environmental
risks; commodity price and exchange rate fluctuations; marketing and
transportation; loss of markets; environmental risks; competition (including for
capital, assets and skilled personnel); incorrect assessment of the value of
acquisitions and failure to realize the anticipated benefits of acquisitions;
ability to access sufficient capital from internal and external sources on
acceptable terms or at all; failure to obtain required regulatory and other
approvals and changes in legislation, including but not limited to tax laws,
royalties and environmental regulations. Accordingly, readers should not place
undue reliance on the forward-looking statements, timelines and information
contained in this news release. Readers are cautioned that the foregoing list of
factors is not exhaustive.


The forward-looking statements and information contained in this news release
are made as of the date hereof and no undertaking is given to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws or the TSX Venture Exchange. The forward-looking statements or
information contained in this news release are expressly qualified by this
cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lateral Capital Corp.
Corbin Blume
President & CEO
Main Phone: [phone]
[phone] (FAX)


Lateral Capital Corp.
730, 1015 - 4th Street SW
Calgary, Alberta T2P 2V7