Penfold Capital Acquisition II Corporation completes $300,000 initial public offering

    TORONTO, June 26 /CNW/ - Penfold Capital Acquisition II Corporation (the
"Company"), a capital pool company, is pleased to announce that it has
completed its initial public offering ("Offering") of 1,500,000 common shares
at a price of $0.20 per share for gross proceeds to the Company of $300,000.
    Blackmont Capital Inc. ("Blackmont") acted as agent for the Offering. In
connection with the Offering, the Company granted to Blackmont a
non-transferable option to purchase up to an aggregate of 150,000 common
shares at a price of $0.20 per share exercisable for a period of 24 months
from the date the Company's common shares are listed on the TSX Venture
Exchange (the "Exchange").
    The Company's common shares have been conditionally approved for listing
on the Exchange. The Company expects its common shares will commence trading
shortly under the symbol PAC.P.
    The net proceeds of the Offering will be used to identify and evaluate
assets or businesses for acquisition with a view to completing a Qualifying
Transaction under the Capital Pool Company program of the Exchange as
disclosed in the Company's prospectus dated March 27, 2008.
    At the closing of the Offering, the Company also granted stock options to
its directors and officers to acquire an aggregate of 350,000 common shares at
a price of $0.20 per share exercisable until June 26, 2013.
    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.

    Forward-looking information:

    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. The Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from
those reflected in the forward looking-statements unless and until required by
securities laws applicable to the Company. Additional information identifying
risks and uncertainties is contained in the Company's filings with the
Canadian securities regulators, which filings are available at

For further information:

For further information: Gary M. Clifford, Penfold Capital Acquisition
II Corporation, 459 Sheppard Avenue, Pickering, Ontario, L1V 1E7, T: (416)
418-9802, F: (416) 862-7661, Email:

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