Colonnade Capital Corp.

TORONTO, ONTARIO, Aug 17 (MARKET WIRE) --
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.

Neither 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.

Contacts:
Colonnade Capital Corp.
Richard Kehmeier
(484) 832-5988

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