Chrysalis Capital VII Corporation to Resume Trading

Toronto, Ontario CANADA, October 06, 2008 /FSC/ - Chrysalis Capital VII Corporation (SEV.P - TSX Venture), announces that trading of its shares on the TSX Venture Exchange will resume on Wednesday, October 8th, 2008.  

"Chrysalis originally halted its shares pending the announcement of a proposed qualifying transaction," commented Robert Munro, CEO.  "Our negotiations and due-diligence have not resulted in an agreement at this point and, as a result, Chrysalis has requested that trading be resumed.  We continue to pursue various options for a qualifying transaction for Chrysalis."

Chrysalis also announces that Mr. Tom Griffis has resigned as a director of Chrysalis, effective August 23, 2008, due to other time commitments.

ABOUT CHRYSALIS CAPITAL VII CORPORATION

Chrysalis Capital VII Corporation is The Chrysalis Capital Group Inc.'s ("TCCG") seventh capital pool company ("CPC"). TCCG is entirely focused on generating superior shareholder returns through the creation of a series of unique CPCs. To date, TCCG has created seven Chrysalis branded CPCs and has assisted in the creation of four additional CPCs under TCCG's partners program. TCCG completed its most recent Qualifying Transaction via Chrysalis Capital IV Corporation with Homeland Energy Group Ltd. (TSX:HEG) on February 29, 2008. For more information about TCCG, please visit www.tccg.ca.

The TSXV does not accept responsibility for the adequacy or accuracy of this press release.

Certain information in this press release may constitute forward-looking information.  This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation.  Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.  

For more information, please contact:

Marc Lavine, Chairman
Robert Munro, Chief Executive Officer and Chief Financial Officer
Chrysalis Capital VII Corporation
t: (877) 272-4073
e: contact@tccg.ca
w: www.tccg.ca



Source: Chrysalis Capital VII Corporation (SEV.P - TSX-V) http://www.tccg.ca
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