Colonnade Capital Corp.

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2009) - Colonnade Capital Corp. (the "Corporation") (TSX VENTURE:COO.P), a capital pool company, announced that the Corporation's Board of Directors approved the granting of 50,000 stock options (the "Options") to the Corporation's directors and officers on August 17, 2009 to acquire up to an aggregate of 50,000 common shares of the Corporation. All Options are exercisable at $0.12 per share, being equal to the closing price of the Corporation's common shares on the TSX Venture Exchange on the date immediately preceding the grant. The Options expire on August 17, 2014.

All Options granted and any common shares issued upon their due exercise will be subject to a statutory four-month hold expiring December 18, 2009. The granting of the Options are subject to regulatory acceptance of applicable filings.