Chairman Capital Corp. - Update on qualifying transaction


    TORONTO, Feb. 27 /CNW/ - Chairman Capital Corp. ("Chairman") is pleased
to provide an update on its previously announced proposed qualifying
transaction. On August 6, 2008 Chairman, its wholly-owned subsidiary, 7022441
Canada Inc. ("7022441"), and Rockport Mining Corp ("Rockport") entered into an
amalgamation agreement (the "Amalgamation Agreement"), a copy of which has
been filed on SEDAR at
    Pursuant to the Amalgamation Agreement, as amended, it was contemplated
that the qualifying transaction would be completed by October 31, 2008;
however due to the extremely difficult capital markets environment the
completion of the qualifying transaction was delayed. Chairman, 7022441 and
Rockport have amended the Amalgamation Agreement to extend the date of
completion of the qualifying transaction until March 31, 2009. Chairman and
Rockport will now continue to work together towards the completion of the

    Additional information on Chairman Capital Corp. can be found at

    Completion of the transaction is subject to a number of conditions,
including but not limited to, TSXV acceptance and if applicable pursuant to
TSXV Requirements, majority of the minority shareholder approval. Where
applicable, the transaction cannot close until the required shareholder
approval is obtained. 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 this
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.

    The TSXV has in no way passed on the merits of this proposed transaction
    and has neither approved nor disapproved the contents of this press

For further information:

For further information: Jonathan Aune, CEO, Chairman Capital Corp.,
(416) 361-1448

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