TORONTO, ONTARIO--(Marketwire - Nov. 28, 2008) - Pocono Capital Inc. ("Pocono") (TSX VENTURE:ONO.P) announced that Pocono has received conditional approval from the TSX Venture Exchange ("the "TSXV") for its qualifying transaction involving Rykala Resources Inc. ("Rykala") previously announced on April 14, 2008 and July 17, 2008. Pocono has filed a CPC Filing Statement dated November 28, 2008 (the "Filing Statement") on SEDAR in respect of the previously announced amalgamation (the "Amalgamation") involving Rykala pursuant to an amalgamation agreement (the "Amalgamation Agreement") dated November 28, 2008. The Company anticipates that the Amalgamation and a concurrent financing will close before the end of 2008.
The Amalgamation will constitute Pocono's "Qualifying Transaction" as defined in Policy 2.4 of the TSXV Corporate Finance Manual. Details of the proposed Amalgamation are available in Pocono's news releases dated April 14, 2008 and July 17, 2008, the Filing Statement and the Amalgamation Agreement. Shareholders are encouraged to review such documents which are available under Pocono's profile on SEDAR at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Pocono Capital Inc.
Mr. Robert Hashimoto
President
(905) 709-9930
Rykala Resources Inc.
Mr. Stephen Dunn
President and CEO
(416) 822-3343
Pope & Company Limited
Mr. James Doyle
Investment Banking
(416) 593-5546
