Lateral Capital Corp. Announces Proposed Private Placement and Update on Previously Announced Acquisition of Private Company

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), further to
its press release dated February 16, 2014 (the "Previous Release"), announces
that the Company is proposing to issue and sell on a private placement basis up
to 8,333,334 units ("Units") of the Company at a subscription price of $0.18 per
Unit for proceeds of up to $1.5 million, each Unit comprised of one common share
("Share") in the capital of the Company and one Share purchase warrant
("Purchase Warrant") of the Company, each Purchase Warrant entitling the holder
thereof to purchase one Share at an exercise price of $0.18 per Purchase Warrant
at any time prior to 5:00 pm. (Calgary time) on the date that is 60 months after
the closing date of the private placement. Completion of the private placement
is subject to acceptance of the TSX Venture Exchange (the "Exchange").


The Company intends to use proceeds of the Unit private placement for working
capital purposes and to fund commitments pursuant to the previously announced
proposed acquisition of a private company, Vector Exploration Corp. (the
"Proposed Acquisition"), that has rights to earn an 80% interest in
approximately 376,000 acres in southeast Saskatchewan (see the Previous Release
on SEDAR at www.sedar.com), particularly a non-refundable deposit of
approximately $130,000 (the "Deposit") and a work commitment amount of
approximately $267,000 (the "Work Commitment"), payable on or before March 7,
2014. The Deposit will be credited toward the purchase price payable at closing
or forfeited by the Company if closing does not occur. The Work Commitment
amount is to be utilised by the private company to satisfy any amounts payable
to the Government of Saskatchewan under The Petroleum and Natural Gas
Regulations, 1969 (Saskatchewan) with respect to the lands in respect of which
the private company has rights to earn an interest, such Work Commitment to be
repaid by the private company (if closing does not occur) within 90 days of the
share purchase and sale agreement being terminated in accordance with the terms
thereof. 


Trading in the Company's securities was halted on February 18, 2014 at the
request of Lateral pending review of the Proposed Acquisition by the Exchange.
The shares of the Company are expected to resume trading on or about Tuesday,
March 4, 2014.


The acquisition of the private company will provide Lateral with the right to
earn up to an 80% interest in two significant land blocks, consisting of 376,000
acres (over 16 townships) with a six year exploration license (currently in year
3) in the east Saskatchewan portion of the Williston Sedimentary Basin (the
"Lands"). 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.


Reservoirs associated with the Lands consist of the entire geological section
from Devonian to Cambrian which provide for multi-stacked targets consisting of
seven known reservoirs, including the Duperow, Souris River, Winnipegosis,
Interlake, Red River (Yeoman Fm.), Winnipeg Group (Black Island Fm.) and
Deadwood. All of these reservoirs are known to produce within this portion of
the sedimentary basin and information compiled by the Saskatchewan Ministry of
Industry and Resources suggests that nearby well bores that have penetrated
these reservoirs are well developed with excellent reservoir characteristics
including oil staining in drilling samples. 


The initial 2D seismic data acquired in 2013 (23.5 km - 2 lines) has identified
several large basement structures. Lateral intends to undertake an additional 53
kilometres of additional 2D seismic data to validate stratigraphic and
structural (Graben-Horst) closures related to these current basement highs. The
data acquisition will be followed up with the drilling of up to three
"conventional" wells to a depth of 1000 m each. The entire capital component for
the project will be approximately $3.0 million


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 proposed private
placement including the potential proceeds and completion thereof and the
conditions precedent to completion of the private company acquisition 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
Corporation, including, without limitation, the Company's ability to complete
the private placement on acceptable terms or at all. Although management of the
Corporation 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 Corporation 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; 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; 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.


All historical analogous information contained in this news release was derived
from government and industry databases which is publicly available on various
government websites in Canada. Due to the inherent uncertainties contained in
such information, readers are cautioned against extrapolating future results of
operations from historical data. Lateral is unable to confirm whether the
historical analogous information contained in this news release was prepared by
a qualified reserves evaluator or auditor, or in compliance with the COGE
Handbook. Readers are cautioned to consider the limitations of analogous
information, whether based on historical data or otherwise.


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