Palatine Capital Corp. Announces an Extension Agreement to the Letter of
Intent

TSX Venture Exchange Trading Symbol: PLN.P

VANCOUVER, Aug. 24 /CNW/ - Palatine Capital Corp. ("Palatine" or "Company") is pleased to announce the signing of a Letter of Intent Extension Agreement ("Extension Agreement") dated August 13, 2010 between Palatine and Pypeline Health Inc. DBA DigitalShelfSpace ("Pypeline").  By press release dated June 14, 2010, Palatine announced that it had entered into a Letter of Intent ('"LOI") with Pypeline dated June 13, 2010.

Section 8 "Closing" of the LOI stated that "The terms of this Letter of Intent will be of no further force or effect (except for S.2 (Confidentiality) and S.5 (Expenses)), if a Definitive Agreement is not executed within 60 days from the date of this Letter of Intent and if the QT is to not consummated 60 days thereafter."

Pursuant to the Extension Agreement, the deadline for executing the Definitive Agreement contemplated in the LOI will now be extended to 5:00 p.m. October 12, 2010, Vancouver time, and the deadline for consummation of the Qualifying Transaction will be extended to 5:00 p.m. February 12, 2011.

On behalf of the Board of Directors

"Thomas Lamb"

Thomas Lamb, Director and CEO

The Company completed its initial public offering in May, 2010 and is designated as a Capital Pool Company by the TSX Venture Exchange.  The Company has not commenced commercial operations and has no assets other than cash.  For further information regarding the Company, see the Company's profile on SEDAR at href="http://www.sedar.com/">www.sedar.com.

This news release does not constitute on offer to sell or a solicitation of an offer to sell any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Completion of the transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance.  There can be no assurance that the transaction will be completed as proposed or at all.  Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.

Trading in the securities of a capital pool company should be considered highly speculative.

Neither the TSX Venture Exchange 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 PALATINE CAPITAL CORP.

For further information: For further information:

Thomas Lamb at 604-762-8682, email: tdlamb@gmail.com

Organization Profile

PALATINE CAPITAL CORP.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890