Carolina Capital Corp. Announces the Completion of its Qualifying Transaction

/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

Trading Symbol: TSXV:CQC.P

VANCOUVER, March 25, 2013 /CNW/ - Carolina Capital Corp. ("Company") (TSX Venture: CQC.P) is pleased to announce the completion of its qualifying transaction with arm's length vendors (the "Vendors") Qualitas Holdings Corp. ("Qualitas") and Mike Magrum (as to 50% each).  The Company has been granted an option to acquire a 100% interest in the Vendors' GP Project by incurring exploration expenditures totaling $100,000 over two years. Additionally, Carolina must make cash payments to the Vendors totaling $25,000 and issue 700,000 shares (200,000 first year) over the two year option term.

Please refer to the Filing Statement for further information about the Company and Qualitas and for further details respecting the qualifying transaction. A copy of the Filing Statement is available on SEDAR at www.sedar.com under the Company's profile.

Mr. R. Tim Henneberry, P. Geo., has been added to the board of directors, which now consists of:
  Mr. Donn Burchill
  Mr. Stephen Hanson
  Mr. R. Tim Henneberry
  Ms. Suzanne Wood

Mr. Stephen Hanson is the Company's Chief Executive Officer and Ms. Suzanne Wood is the Company's President, Chief Financial Officer and Secretary.

The Company also announces the concurrent completion of a non-brokered private placement (the "Offering").  The Company issued an aggregate of 4,950,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds of $495,000.00.  Each Unit consists of one common share and one-half (1/2) of one share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.15 for two years from closing of the Offering.

All securities issued with respect to the Offering are subject to a hold period expiring July 22, 2013.

The proceeds of the private placement will be used to pay the balance of costs to complete the qualifying transaction, to make option payments to the Vendors, and to finance the Company's exploration program on the GP Project.

As a result, effective at market open on Tuesday, March 26, 2013, the Company expects to resume trading under the trading symbol "CQC" and, accordingly, the Company will no longer be a capital pool company within the meaning of TSX Venture Exchange Policy 2.4.

ON BEHALF OF THE BOARD OF DIRECTORS

"Suzanne Wood"

Suzanne Wood                                
Director       

Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of The TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Carolina Capital Corp.

For further information:

Suzanne Wood, Tel: (604) 687-6991 ext. 12. Fax: (604) 688-2687.

Profil de l'entreprise

Carolina Capital Corp.

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