CALGARY, ALBERTA--(Marketwired - Jun 22, 2016) - Humboldt Capital Corporation ("Humboldt") (TSX VENTURE:HMB) is pleased to announce that the proposed plan of arrangement involving Humboldt, Lamond Investments Ltd. and the shareholders of Humboldt, whereby Lamond Investments will acquire all of the issued and outstanding common shares of Humboldt ("Humboldt Shares") not already held by Lamond Investments or Robert W. Lamond and the holders of such shares will receive $1.075 cash and 1.4074 common shares of Tuscany Energy Ltd. for each Humboldt Share held, has been approved by 99.89% of the votes cast by Humboldt shareholders at the annual and special meeting of Humboldt shareholders.

Completion of the arrangement remains subject to the approval of the Court of Queen's Bench of Alberta, the hearing for which is scheduled to be held on Friday, June 24, 2016. Assuming the Court approves the arrangement at the hearing and the other conditions to closing are satisfied or waived, it is anticipated that closing of the arrangement will occur on Monday, June 27, 2016 and that the Humboldt Shares will be delisted from trading on the TSX Venture Exchange on Wednesday, June 29, 2016.

Forward-Looking Information

Certain information set forth in this press release, including information and statements which may contain words such as "could", "plans", "should", "anticipates", "expects", "believes", "will" and similar expressions and statements relating to matters that are not historical facts, contains forward-looking statements, including but not limited to statements regarding the anticipated timing of closing of the arrangement and the delisting of the Humboldt Shares. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Humboldt's control. Completion of the arrangement is subject to a number of conditions which are typical for transactions of this nature. Failure to satisfy any of these conditions or the emergence of a superior proposal may result in the termination of the arrangement. The foregoing list is not exhaustive. Additional information on these and other risks that could affect completion of the arrangement is set forth in the information circular and proxy statement of Humboldt in respect of its annual and special meeting of shareholders and is available on SEDAR at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The actual results, performance or achievement of Humboldt could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Humboldt will derive therefrom. Humboldt disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.