Target purchases stake in development company

    




 CALGARY, Oct. 26, 2011 /CNW/ - Target Capital Inc.  announces  it has closed the purchase of 50% of 1587182 Alberta Ltd. 

 Target Capital has closed a transaction with 1587182 Alberta Ltd.  ("1587182"), an arm's length private development company, pursuant to  which Target acquired a 50% interest in the company. 1587182 holds a  purchase contract on certain commercial real property in Langley,  British Columbia, which it intends to further develop. 

 In return for the interest in 1587182, Target has agreed to provide  interest-free financing to 1587182 of up to $2,050,000, secured against  the real property. This financing will be used to cover costs  associated with rezoning and obtaining a development permit for the  real property. 

 This acquisition positions Target to participate in a development  project with a substantial growth potential, without significantly  increasing its risk profile. This is in alignment with its stated goal  to pursue quality investment opportunities with its cash on hand. 

 Information about Target Capital Inc. can be found on its website at www.targetcapitalinc.com and on www.sedar.com. 

Target Capital Inc.


CONTACT:  Ryan Hoult, CFO, at [phone], [e-mail] 


    

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