Yonge Street Capital Corp. Has Been Granted an Extension to Complete Its Qualifying Transaction

  Yonge Street Capital Corp. ("Yonge Street" or the "Company") (TSX VENTURE: YSC.P) is pleased to announce that it the TSX Venture Exchange Inc. has granted it an extension to May 19, 2009 to complete a Qualifying Transaction or transfer to NEX, or delist.

As a condition to obtaining the extension, the Company has cancelled 525,000 shares held by non arm's length parties to the Company so that the average cost of the seed shares held by non arm's length parties now equals the IPO price. Yonge Street now has 2,503,750 common shares issued and outstanding.

About Yonge Street

Yonge Street is a company incorporated under the Canada Business Corporations Act. It is a reporting issuer in the Provinces of Alberta, British Columbia, Manitoba, and Ontario. Further information concerning Yonge Street can be found in the prospectus of Yonge Street dated March 27, 2006 and is available at www.sedar.com.

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.

Contacts: Yonge Street Capital Corp. Gerald Ruth President & CEO [phone]