Humber signs Term Sheet for up to $1 Million Private Placement



    EDMONTON, Jan. 30 /CNW/ - Humber Capital Corporation (TSX-V: RUM)
("Humber"), listed on the TSX Venture Exchange (the "Exchange"), announced
today that Humber has entered into a non-binding term sheet (the "Term Sheet")
for a private placement of a convertible debenture (the "Debenture"), not to
exceed $1 million with a private investor.
    Humber owns 100% of Andersons Liquor Inc. ("Andersons") headquartered in
Edmonton Alberta, which owns and operates private liquor stores in that
province. The Debenture may support Andersons' previously disclosed plan to
grow through the acquisition of private liquor stores.
    The proposed Debenture is a 5 year unsecured subordinated note and will
bear interest at 8.25% per annum payable annually. The Debenture is
convertible into common shares of Humber after the fourth month of the date of
issue at a conversion price of $0.315.
    Completion of the Proposed Transaction is subject to a number of
conditions, including Exchange approval, approval by Humber's board of
directors, and the completion of the Debenture described above setting forth
the terms and conditions in the Term Sheet.
    There can be no assurance that the placement of the Debenture will be
completed on the terms described as proposed or at all.
    If and when a definitive agreement with respect to the Proposed
Transaction is executed, Humber will issue a further announcement outlining
the details, in accordance with Exchange policy.

    
    The Exchange has in no way passed upon the merits of the Proposed
    Transaction and has neither approved nor disapproved the contents of this
    press release. The Exchange does not accept responsibility for the
    adequacy or accuracy of this press release.
    

    This news release, as of this date, contains "forward-looking statements"
within the meaning of applicable securities laws relating to potential
acquisitions. Readers are cautioned not to place undue reliance on
forward-looking statements. Actual results and developments may differ
materially from those contemplated by these statements depending on, among
other things, the risks that acquisitions may not materialize. If they do
materialize, there remains a risk of non-execution for any reason (including
the failure to obtain the required approvals or clearances from regulatory
authorities).

    %SEDAR: 00026544E




For further information:

For further information: Peter Byrne, CEO, (780) 686-7383

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HUMBER CAPITAL CORPORATION

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