Allegiance's CinGx for Treatment and Prevention of Memory Loss Achieves Major Milestone

TORONTO, Oct. 11, 2011 /CNW/ - Allegiance Equity Corporation (TSXV:ANQ.V).

Health Canada's acceptance of Master Ingredient File for CinGx marks a major new milestone for Allegiance.

"The Acceptance for the filing of the Master Ingredient File with Health Canada  by our partners Nealanders International Inc and Dicentra two world class companies is a major accomplishment for Allegiance and CinGx, remarked David Solomon, CEO of Allegiance.

CinGx^TM a Revolution in Functional Food

CinGx^TM is an all natural patented blend of Panax Ginseng and Cinnamon Bark Extract that reduces blood glucose levels and improved brain function. This amazing flavorless powder can easily be incorporated into many different foods and beverage applications CinGx^tm has the benefits of

• Reduces blood sugar
• Reduces mental fatigue
• And enhances physical capacity and performance

With the filing of the Master Ingredient File with Health Canada North American manufacturers now have a new and exciting way to bring consumers revolutionary new health benefits.

This extensive filing on safety and evidence supports the claims for new and exciting health claims.

Dicentra assisted Nealanders in preparing the necessary regulatory documentation for CinGx^TM Dicentra is a leading international scientific and regulatory consulting firm with specialized expertise in the areas of natural health products, dietary supplements, OTCs, foods and cosmetics.

Dicentra is directly involved in the successful development of hundreds of leading products in North America and throughout the world.

CinGx^TM a platform technology with a multitude of mass market applications

Similar companies in the same industry such as Danon introduced their probiotic yogurts in 2006 and in 2010 they had increased revenues by several billion annually worldwide. Red Bull was introduced in 1989, creating an entirely new category of beverage and as of 2010, their sales had exceeded $4 billion CinGx^TM with far greater and substantial health benefits and more diverse product applications represent a similar if not greater opportunity.

"We are extremely fortunate and grateful to have Nealanders as a partner, you couldn't have asked for a better fit for Allegiance. They are poised to market CinGx(TM) to their clients for placement in a variety of foods and beverages," stated David Solomon, President of Allegiance.

Nealanders has completed regulatory documentation for compliance with Health Canada and the FDA requirements to facilitate marketing CinGx^TM to its clients. They have formulated foods and beverages in several categories containing CinGx^TM for presentation to major food manufacturers where Nealanders has established relationships.

"I am very excited about moving forward with this revolutionary new additive CinGxT," says Steve Owen, VP Sourcing, Product Development GM - Ontario.

ABOUT NEALANDERS

Nealanders is a full service producer and distributor of food ingredients, supplying the broadest range of complementary ingredients to a large and diversified customer base. Nealanders is also the exclusive Canadian distributor for several of the world's pre-eminent ingredient manufacturers, and is the largest co-packer of instant oatmeal in Canada.

Allegiance Grants Directors Options

Allegiance Equity Corporation announces that it has awarded 564,450 share purchase options ("the Awarded Options") to directors and senior management to buy common shares in the Company. The Awarded Options include the grants of 112,890 common shares at $0.55 per share to the directors of the Company namely David Solomon.Marilyn Bloovol, Donald Stott, Dr Melvin Goldberg, and Philip Bookalam. The options are exercisable up to and including September 24, 2016.

ABOUT ALLEGIANCE

Allegiance targets billion dollar markets having clearly identified product deficiencies and dissatisfied patients who suffer widespread diseases and conditions including diabetes, cholesterol, Alzheimer`s and Dementia and arthritis.

Allegiance's strategy utilizes leading-edge scientific technology to create valuable, proprietary and effective natural treatments, recognized as safe and effective by North American regulatory authorities, at a fraction of the cost and time it takes to develop a prescription drug. Allegiance then obtains patents and regulatory approvals.

Additional information relevant to the Company's activities, including the Company's press releases can be found on SEDAR at www.sedar.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility FOR THE ADEQUACY OR ACCURACY FOR THIS PRESS RELEASE, WHICH HAS BEEN PREPARED BY MANAGEMENT.

For further information:

Allegiance Equity Corporation David Solomon President [phone] Email [e-mail]