Chrysalis to close Qualifying Transaction with Homeland on February 29th

    TSX Venture Exchange Symbol: CIV.P

    TORONTO, Feb. 21 /CNW/ - Chrysalis Capital IV Corporation ("Chrysalis")
is pleased to announce that it has filed a Filing Statement prepared in
accordance with the requirements of the TSX Venture Exchange (the "Exchange")
in connection with its previously announced proposed qualifying transaction
(the "Qualifying Transaction") with Homeland Energy Corp. ("Homeland").
Shareholders are encouraged to go to to review the Filing
Statement. The Qualifying Transaction is currently scheduled to close on or
about February 29, 2008.
    Chrysalis is also pleased to announce that 26,982,980 common shares of
Homeland ("Homeland Common Shares") have been validly deposited pursuant to
the previously announced share exchange offer by Chrysalis. The deposited
Homeland Common Shares represent approximately 78% of the current issued and
outstanding Homeland Common Shares. Chrysalis intends to instruct the
depositary, Equity Transfer & Trust Company, to take up and pay for all of the
Homeland Common Shares validly deposited pursuant to the offer concurrent with
the closing of the Qualifying Transaction.

    Completion of the Qualifying Transaction is subject to a number of
conditions, including but not limited to, final acceptance from the TSX
Venture Exchange. There can be no assurance that the Qualifying Transaction
will be completed as proposed or at all.

    Investors are cautioned that, except as disclosed in the Filing Statement
prepared in connection with the Qualifying Transaction, any information
released or received with respect to the Qualifying Transaction may not be
accurate or complete and should not be relied upon. Trading in the securities
of Chrysalis should be considered highly speculative.

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

    Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are subject
to significant risks and uncertainties that are difficult to predict. Actual
results might differ materially from results suggested in any forward-looking
statements. Chrysalis assumes no obligation to update the forward-looking
statements unless and until required by applicable securities laws. Additional
information identifying risks and uncertainties is contained in filings by
Chrysalis with the Canadian securities regulators, which filings are available


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:

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