Newcap Signs Agreement to Acquire CHNI-FM in Saint John, NB

DARTMOUTH, N.S., July 4, 2013 /CNW/ - Newfoundland Capital Corporation ("NCC" or the "Company") (TSX: NCC.A, NCC.B) is pleased to announce that its wholly-owned subsidiary, Newcap Inc., has entered into an agreement to acquire the radio broadcasting licence CHNI-FM in Saint John, New Brunswick from Rogers Broadcasting Limited, subject to approval from the Canadian Radio-television and Telecommunications Commission ("CRTC").

President and Chief Executive Officer Rob Steele comments: "This licence is a great fit for our Company as it expands our presence in New Brunswick and represents our entry into the Saint John market. We are eager to serve and become part of the community".

About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) is one of Canada's leading radio broadcasters with 88 licences across Canada.  The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking.

SOURCE: NEWFOUNDLAND CAPITAL CORPORATION LIMITED

REF: Robert G. Steele, President and Chief Executive Officer, Scott G.M. Weatherby, Chief Financial Officer and Corporate Secretary, Newfoundland Capital Corporation Limited, 745 Windmill Road, Dartmouth, Nova Scotia B3B 1C2, Tel: [phone], Fax: [phone], e-mail: [email protected], Web: www.ncc.ca