Lateral Capital Corp. Announces Proposed Acquisition

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) is pleased
to announce it has entered into a binding agreement to acquire a private company
("PrivateCo") that has rights to earn an 80% interest in approximately 376,000
acres (net approximately 301,000 acres) in Saskatchewan (the "Lands"). Lateral
will acquire all of the issued and outstanding shares of PrivateCo for an
aggregate purchase price of $4,750,000, comprised of cash in the amount of
$750,000 and the issuance of an aggregate of 22,222,223 common shares in the
capital of the Company at a price of $0.18 per share (the "PrivateCo
Acquisition"). The Company and the shareholders of PrivateCo have negotiated a
definitive purchase and sale agreement for the PrivateCo Acquisition. The
Closing of the PrivateCo Acquisition will be subject to conditions customary for
transactions of this nature including acceptance by the TSX Venture Exchange. 


The Lands are one of the largest contiguous land positions in Saskatchewan and
includes all conventional petroleum and natural gas rights from surface to
basement. PrivateCo acquired two 2-D seismic lines totalling 24km in 2013 which
identified a number of potential drilling locations. A larger (53km) 2D seismic
program is being shot in February 2014 to detail the features identified, with
the planned drilling of two exploratory wells. Well costs for a 1000m test are
approximately $600,000 to drill, complete and tie-in. Lateral intends to
capitalize on the favorable economic terms of the Saskatchewan government
royalty regime and believes there is significant potential in this large acreage
position. 


An independent third party reviewed various land sale prices for exploration
licenses from 2010 to 2013 published by Saskatchewan Energy and Mines and
advised the Company that the purchase price is below the estimated value based
on the lowest of the average sale values. The price for the land in offsetting
acreages has been approximately $66.00 per acre. Mr. Murray Swanson, a director
of the Company, is also a director and a shareholder of PrivateCo. In connection
with the approval by the Company of the PrivateCo Acquisition, Mr. Swanson
declared his personal interest in the PrivateCo Acquisition and abstained from
voting on the approval of the PrivateCo Acquisition. The PrivateCo Acquisition
is exempt from the valuation and minority approval requirements of Multilateral
Instrument 61-101.


As announced previously the Company is currently assessing opportunities to
acquire assets (in addition to the PrivateCo Acquisition), and if the Company is
able to reach an agreement to acquire assets (details of which will be provided
if agreement is reached) it intends to offer securities on a private placement
basis to complete any such acquisition. Any such private placement will be
subject to acceptance of the TSX Venture Exchange.


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.


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.


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 PrivateCo Acquisition
including the completion thereof (including the closing date), The ability of
PrivateCo to earn it's interest in the Lands, the results of existing 2-D
seismic, potential future seismic programs (including the nature and extent
thereof), future drilling and anticipated costs relating thereto and the nature
of applicable royalties, opportunities to acquire assets and raise capital as
well as the Company's corporate strategy. 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 complete the PrivateCo Acquisition, identify suitable asset acquisition
opportunities, reach agreement for the acquisition of assets and obtain
financing 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 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
[phone]
[phone] (FAX)