TORONTO, ONTARIO--(Marketwired - Sept. 14, 2015) -

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Cluny Capital Corp. ("Cluny" or the "Company") (TSX VENTURE:CLN.P) announced today that it has entered into a letter of intent dated September 11, 2015 with Active ImageNation Inc. (DBA Cap That) ("Cap That"), a corporation incorporated under the laws of the State of Delaware, pursuant to which Cluny and Cap That intend to complete a business combination (the "Proposed Transaction") currently anticipated to be a triangular merger under the General Corporate Law of the State of Delaware, pursuant to which a Delaware incorporated wholly owned subsidiary of Cluny will merge with Cap That to form a new entity which will become a wholly owned subsidiary of Cluny. The Proposed Transaction, if completed, will constitute Cluny's "Qualifying Transaction" under Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange (the "TSX-V"). The Proposed Transaction will be an arm's length transaction.

Cap That is a Los Angeles based company incorporated on October 18, 2010 that specializes in strategic e-commerce solutions for partners in the entertainment and sports industries.

Intertainment Media Inc. is a significant minority investor in Cap That and holds approximately 30% of the equity of Cap That.

As part of the Proposed Transaction, Cluny will complete a concurrent financing for aggregate gross proceeds of a minimum of $1,000,000 and a maximum of $4,000,000 (the "Private Placement"). The full terms of the Private Placement will be determined in the context of the market. Following the completion of the Proposed Transaction, the shareholders of Cap That (including investors under the Private Placement) will hold a significant majority of the outstanding common shares of the Company (or resulting issuer).

A comprehensive press release with further particulars relating to the Proposed Transaction will follow in accordance with the policies of the TSXV.

Completion of the Proposed Transaction is subject to a number of conditions including, but not limited to: completion of satisfactory due diligence; completion of the Private Placement; execution of a definitive agreement in respect of the Proposed Transaction; receipt of requisite regulatory approvals; acceptance of the Proposed Transaction by the TSX-V; receipt of all requisite approvals from the shareholders of each of Cluny and Cap That for the Proposed Transaction and ancillary matters relating thereto; and the completion of all other actions necessary to consummate the Proposed Transaction. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in securities of Cluny should be considered highly speculative.

The TSX-V has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding the Proposed Transaction and the Private Placement. The forward-looking statements contained in this press release represent the Company's views and expectations as of the date of this press release and should not be relied upon as representing its views and expectations at any subsequent date. Actual developments may differ materially from those contemplated by these forward-looking statements. The forward-looking events and circumstances discussed in this press release, including the completion of the Proposed Transaction, may not occur or could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including (without limitation) risks regarding market conditions, economic factors, and the equity markets generally. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.