Jade Capital Corp. shareholders meeting called by Ryan King cancelled by court order

    CALGARY, March 16 /CNW/ - Jade Capital Corp. (the "Corporation"). The
Corporation announces that its application seeking an order cancelling the
shareholders meeting called by Ryan King in the capacity of a dissident
shareholder to be held on March 21, 2007, was granted by the Court of Queen's
Bench of Alberta.
    After hearing the Corporation's submissions that Ryan King had not
validly acquired any shares of the Corporation as represented by Mr. King in
his dissident proxy circular dated February 26, 2007 and that Mr. King had
breached provisions of applicable laws in calling a shareholders meeting, the
Court ordered that the meeting of shareholders called by Mr. King for
March 21, 2006 be cancelled.
    In accordance with the Court order, upon completion of the audited
financial statements of the Corporation for the financial year ended
February 28, 2007, the Corporation will call and hold an annual general and
special meeting of shareholders on or before June 7, 2007.

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

For further information:

For further information: Ashif S. Merani, Merani Reimer LLP, Barristers
& Solicitors, Counsel to the Corporation, Tel: (403) 261-9007

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