BURLINGTON, ON, April 24 /CNW/ - Kingsmill Capital Ventures II Inc. (the "Corporation") is pleased to announce that it has successfully completed an initial public offering of 4,497,000 common shares (the "Common Shares") at $0.20 per share for gross proceeds of $899,400 (the "Offering"). As a result of this issuance, the Corporation has 6,287,000 Common Shares issued and outstanding of which 1,790,000 are escrowed pursuant to the policies of the TSX Venture Exchange (the "Exchange"). In connection with the Offering, the Corporation has granted an option (the "Agent's Option") to Canaccord Capital Corporation who acted as agent for the Offering. The Agent's Option entitles the holder to acquire an aggregate of 449,700 Common Shares at an exercise price of $0.20 per share for a period of 24 months from the date the Corporation's Common Shares are listed on the Exchange. The Corporation is a capital pool company pursuant to Policy 2.4 of the Exchange. A copy of the Corporation's final prospectus may be obtained from www.sedar.com.

The Corporation has also granted options to acquire an aggregate of 628,700 Common Shares at an exercise price of $0.20 per share to the directors and officers of the Corporation which will expire 5 years from the date of grant.

The Exchange has conditionally approved the listing of the Corporation's Common Shares on the Exchange and the Corporation now intends to make application for final approval. The Exchange has reserved the trading symbol "KII.P".

Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY

OR ACCURACY OF THIS RELEASE.