71 Capital Corp. Announces Termination of Kingsview Transaction

(TSXV-NEX: SVN.H)

TORONTO, April 30, 2013 /CNW/ - 71 Capital Corp. (the "Corporation") (TSXV-NEX: SVN.H) today announced that it has terminated its letter of intent for the amalgamation of the Corporation with Kingsview Iron Ore Limited ("Kingsview").  Although management of the Corporation and Kingsview worked diligently to complete this transaction market conditions were such that the conditions for completion of the transaction could not be satisfied.  Management is actively looking for a new qualifying transaction for the Corporation and the Corporation will update the market as developments arise.  The Corporation also announced that it has filed its notice of meeting and record date for the Corporation's annual and special meeting of shareholders to be held on June 28, 2013 at the office of Fogler, Rubinoff LLP.  Shareholders will receive meeting materials for the meeting in early June.

It is anticipated that the Corporation's common shares will commence trading again on Thursday May 2, 2013.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

SOURCE: 71 Capital Corp.

71 CAPITAL CORP.
ERIC ROBLIN
PHONE NO: [phone]