Chrysalis Extends Offer to Acquire Homeland

    TSX Venture Exchange Symbol: CIV.P

    TORONTO, Feb. 7 /CNW/ - Chrysalis Capital IV Corporation ("Chrysalis")
announced today that it has extended its offer (the "Offer") to acquire all of
the issued and outstanding common shares (the "Homeland Common Shares") of
Homeland Energy Corp. ("Homeland") held by certain qualified holders of
Homeland Common Shares ("Homeland Shareholders") to 5:00 p.m. (Toronto time)
on February 19, 2008. Previously, the Offer was set to expire at 5:00 p.m.
(Toronto time) on February 7, 2008.
    The Offer is made on the basis of one common share of Chrysalis
("Chrysalis Common Shares") for one Homeland Common Share. On or immediately
prior to the closing of the Offer, the Chrysalis Common Shares will be
consolidated by a ratio of 2:1 (the "Share Consolidation") and the Homeland
Common Shares will be subdivided on a 4:1 basis.
    As at February 5, 2008, 53.22% of the outstanding Homeland Common Shares
have been tendered to the Offer. The purpose of the extension is to allow for
the closing of the Offer to coincide with the closing of the qualifying
transaction with Homeland. The qualifying transaction is expected to close on
or about February 22, 2008. The Toronto Stock Exchange has conditionally
approved the listing of the Chrysalis Common Shares upon the completion of the
qualifying transaction with Homeland.
    A Notice of Extension will be filed on SEDAR ( The Notice
of Extension will also be mailed to Homeland Shareholders.


    Chrysalis Capital IV Corporation is The Chrysalis Capital Group's
("TCCG") fourth capital pool company ("CPC"). TCCG is focused on generating
superior shareholder returns through the creation of a series of unique CPCs.
To date, TCCG has created five Chrysalis branded CPCs and has assisted in the
creation of two additional CPCs under TCCG's Partners Program. TCCG completed
its most recent Qualifying Transaction (via Chrysalis Capital III Corporation)
with U.S. Silver Corporation (TSXV: USA) on December 28, 2006. For more
information about The Chrysalis Capital Group, please visit


    Homeland Energy Corp. is a private company focused on energy exploration
and development in Southern Africa. Homeland owns three advanced
development/predevelopment coal projects in South Africa and a number of
early-stage exploration properties in the provinces of Mpumalanga and Kwa-Zulu
Natal. The Company is currently negotiating to acquire interests in a number
of additional coal properties in eastern South Africa and neighbouring
countries. Homeland is a significant shareholder in Homeland Uranium Inc., a
Canadian uranium exploration and development company focused on projects in
Niger and the United States. For more information about Homeland, please visit

    This news release contains projections and other forward-looking
statements regarding future events. Such statements are predictions, which may
involve known and unknown risks, uncertainties and other factors, which could
cause the actual events or results and objectives to differ materially from
those expressed.

    This Offer will be made only by the separate formal offer and takeover
bid circular. This news release does not constitute an offer or solicitation
in any jurisdiction. Any such offer or solicitation will be made only by
formal offer and only in those jurisdictions where Chrysalis may legally do

    The TSX Venture Exchange has in no way passed upon the merits of the
    Offer and has neither approved nor disapproved the contents of this press

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Marc Lavine, Chairman and Chief Executive
Officer, Robert Munro, President and Chief Financial Officer, Chrysalis
Capital IV Corporation, T: (416) 352-5763, E:, W:;
Stephen Coates, President and Chief Executive Officer, Homeland Energy Corp.,
T: 011 44 20 7016 9881, E:, W:

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