All in West! Capital Corporation announces closing of rights offering and
issuance of $2,366,870 of Series C Convertible Debentures

WINNIPEG, Oct. 8 /CNW/ - All in West! Capital Corporation (the "Corporation") (TSX-V: ALW) announced today that it has closed its previously announced rights offering pursuant to which it has issued and sold 236,687 8% Series C Convertible Debentures (the "Series C Debentures") at a price of $10 per Series C Debenture for gross proceeds of $2,366,870. Insiders of the Corporation and certain related parties to insiders purchased in excess of $1,200,000 principal amount of Series C Debentures.

Interest on the Series C Debentures is payable monthly. The principal amount of the Series C Debentures is convertible into Shares at a price of $0.10 per share any time prior to maturity on October 1, 2012.

The Series C Debentures rank subordinate to the Corporation's mortgage indebtedness, but ranks in priority to the Corporation's outstanding Series A and Series B convertible debentures.

National Bank Financial Inc. acted as the dealer manager in connection with the rights offering.

The net proceeds from the sale of Debentures will be used by the Corporation for working capital and to help the Corporation meet its ongoing obligations and commitments with respect to its portfolio of hotels. The Corporation may use a portion of the proceeds to convert the Black Bear Inn in Hinton, Alberta into a franchised hotel property.

This press release contains forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from what the Corporation currently expects. Some of these risks and uncertainties are described under "Risk Factors" in the Corporation's prospectus dated August 26, 2009, a copy of which is available at www.sedar.com. All forward-looking statements contained herein are expressly qualified by this cautionary statement.

    
    The TSX Venture Exchange has not reviewed or approved the contents of
    this press release.
    

SOURCE ALL IN WEST! CAPITAL CORPORATION

For further information: For further information: please contact Mr. Cornelius Martens, President and Chief Executive Officer, or Cornelius William Martens, Investor Relations, Tel: (204) 947-1200

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ALL IN WEST! CAPITAL CORPORATION

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