TORONTO, May 30 /CNW/ - (TSX-V: SCP.P) SCOSS Capital Corp. (the "Corporation"), a capital pool company listed on the TSX Venture Exchange (the "Exchange"), completed its previously announced acquisition of two self-storage properties located at 375 Middlefield Road and 345 Danforth Road, Toronto, Ontario (the "Acquisition") for an aggregate purchase price of $8.05 million (subject to customary adjustments). The acquired properties consist in the aggregate of 250 self-storage units comprising a total of 58,067 square feet of leasable space. In order to finance the Acquisition, the Corporation also completed a secured financing in the amount of $6.0 million (the "Mortgage Financing") and a private placement of 9,000,000 common shares of the Corporation for gross proceeds of $4.5 million (the "Private Placement" and, together with the Acquisition, the "Transactions"). Canaccord Capital Corporation acted as agent to the Corporation for the Private Placement. The Transactions are intended to serve as the Corporation's "Qualifying Transaction" pursuant to the capital pool company policies of the Exchange. The portion of the proceeds of the Mortgage Financing and Private Placement not used to fund the Acquisition purchase price will be used to pay the costs and expenses associated with the Transactions, with the balance to be used to identify potential future acquisitions and for general corporate purposes. SCOSS Capital Corp. The Corporation operates and owns self-storage properties. With the completion today of the Acquisition, the Corporation currently owns two self- storage properties located in Toronto, Ontario and it intends to continue to grow its business through investments in and acquisitions of additional self- storage properties and ancillary businesses. Additional information on the Corporation is available on the SEDAR website at www.sedar.com. This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include the intention to make future acquisitions or investments. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of the Corporation to obtain necessary financing; the level of activity in the self-storage business and the economy generally; consumer interest in the Corporation's services and products; competition; and anticipated and unanticipated costs. The Corporation specifically disclaims any obligation to update these forward- looking statements. There can be no assurance that forward-looking statements will prove to be accurate and readers should not place undue reliance on forward-looking statements. Investors are cautioned that, except as disclosed in the Corporation's filing statement prepared in connection with the Transactions, any information released or received with respect to the Transactions may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The Exchange has in no way passed upon the merits of the Transactions and has neither approved nor disapproved the contents of this press release.