Lateral Capital Corp.- Corporate Update

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Lateral Capital Corp. ("Lateral" or the "Company") (TSX VENTURE:LCP) - Mr.
Corbin Blume, President and Chief Executive Officer of Lateral, reports the
Company has issued promissory notes (the "Notes") to two arm's length
individuals (the "Holders"), pursuant to which the Holders have agreed to lend
the Company an aggregate of CDN$400,000, of which $200,000 is secured against
the assets of the Company. The Company intends to use the proceeds of the Notes
for general working capital purposes. 


The principal under the Notes will incur interest at a rate of 12% per year and
the Notes shall mature on April 1, 2013 (the "Maturity Date"). At any time up
until the Maturity Date, the Company shall have the right to re-pay the full
outstanding principal under the Notes without penalty. In addition, the Holders
shall be entitled to receive bonus shares of the Company in an amount equal to
20% of the value of the Notes, as permitted under the policies of the TSX-V. 


The Company also announces it has executed a novation agreement with Whitecap
Resources Inc. to extend the closing date of its previously announced
acquisition (Market Wire: November 28, 2012) to March 25, 2013. The agreement
provides for total consideration of $28.1-million with an effective date of
January 1, 2013. Under the terms of this agreement, the Company has made an
additional non-refundable deposit of $200,000. The transaction will be financed
through a combination of equity and debt financings, the terms and conditions of
which will be announced shortly. The transaction is subject to customary closing
conditions, including TSX-V approval.


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.
Forward-looking statements and information are often, but not always, identified
by the use of words such as "appear", "seek", "anticipate", "plan", "continue",
"estimate", "approximate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe",
"would" and similar expressions.


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.
1000, 205 - Fifth Avenue SW
Calgary, Alberta T2P 2V7