C2C INDUSTRIAL PROPERTIES INC. (FORMERLY SARGASSO CAPITAL CORPORATION) - NATIONAL INSTRUMENT 62-103 -
THE EARLY WARNING SYSTEM AND RELATED MATTERS

/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, May 20, 2011 /CNW/ - C2C Industrial Properties Inc. (formerly Sargasso Capital Corporation) (the "Corporation"), a capital pool company listed on the TSX Venture Exchange Inc., has acquired of all of the issued and outstanding shares of C2C Industrial Properties Ltd. ("C2C") (the "Transaction").

In connection with the Transaction:

          (a)      Blue Water Property Investment Inc. acquired control over 7,000,000 Common voting shares of the Corporation, at a cost of $0.15 per share, representing approximately 19.39% of the issued and outstanding common shares in the capital of the Corporation, as of the closing of the Transaction.
          (b)      Bunky Holdings Limited acquired 6,666,666 Common voting shares of the Corporation, at a cost of $0.15 per share, representing approximately 18.47% of the issued and outstanding Common shares in the capital of the Corporation, as of the closing of the Transaction.

The Common voting shares held by Blue Water Property Investment Inc. are held in escrow pursuant to the requirements of the TSX Venture Exchange.

For a full description of the Transaction, please refer to the filing statement of the Corporation filed on www.sedar.com on May 2, 2011.

Messrs. Blue Water Property Investment Inc. located at 210 Indian Valley Trail, Mississauga, Ontario L5G 2K6 and Bunky Holdings Limited located at 100 University Avenue, Suite 700, Toronto, Ontario M5J 1V6 are issuing this press release pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues - and applicable Canadian securities legislation.

Additional information concerning the Corporation is available on SEDAR.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.  The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this release.

SOURCE C2C Industrial Properties Inc

For further information:

Christopher Ross, President
C2C Industrial Properties Inc.
Tel.: (416) 922-5553
Fax: (416) 922-6667
cross@strathallen.com

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C2C Industrial Properties Inc

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