Foxpoint Capital Corp. Announces an Update with Respect to its Proposed Qualifying Transaction

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TORONTO, May 2 /CNW/ - Foxpoint Capital Corp. ("Foxpoint" or the "Corporation") (TSX-V: FXC.P), a capital pool company, announces that its previously announced non-binding letter of intent dated November 8, 2010, as amended January 20, 2011, with Touchstone Investment Holdings Limited ("Touchstone") has expired.

In conjunction with the expiration, the Corporation has recommenced its search for a qualifying transaction.

The Corporation's shares are currently listed on the TSX Venture Exchange Inc. but were halted from trading in anticipation of a potential transaction with Touchstone.  With the expiration of the letter of intent, the Corporation's shares are expected to resume trading.

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

SOURCE Foxpoint Capital Corp.

For further information:

Foxpoint Capital Corp.
Fraser Buchan: President, CEO
(416) 640-1933

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Foxpoint Capital Corp.

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