Ginger Beef Corporation Announces Application for Management Cease Trade Order

CALGARY, ALBERTA--(Marketwired - Sept. 17, 2013) - Ginger Beef Corporation (the "Corporation") (TSX VENTURE:GB) is providing this bi-weekly Default Status Report in accordance with National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On August 29, 2013, the Corporation announced (the "Default Notice") that it would be unable to file its unaudited interim financial statements, management's discussion and analysis and related Chief Executive Officer and Chief Financial Officer certificates for its six-month period ended June 30, 2013 (the "Required Filings") before the August 29, 2013 filing deadline for the reason disclosed within that announcement.

In accordance with NP 12-203, and as previously announced, the Corporation applied to the Alberta Securities Commission (the "ASC") to approve a temporary management cease trade order ("MCTO") to prohibit trading in securities of the Corporation by certain insiders of the Corporation, whether direct or indirect. On August 30, 2013, the ASC issued a temporary MCTO.

The Corporation is working on the Required Filings and anticipates that it will be a position to remedy the default by filing the Required Filings by September 30, 2013.

Pursuant to the requirements of section 4.4 of NP 12-203 - Alternative Information Guidelines ("AIG"), the Corporation reports that since the issuance of the Default Notice, there have not been any material changes to the information provided therein nor has there been any failure by the Corporation in fulfilling its stated intentions with respect to satisfying the AIG. In addition, there has not been any other specified default by the Corporation under NP 12-203 nor are any anticipated and there is no other material information concerning the affairs of the Corporation that has not otherwise been reported.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.