On June 26th, 2009, the Bank of Montreal, a secured creditor of SportsClick, issued a notice of intent under the Bankruptcy and Insolvency Act to reclaim its loan from SportsClick.

On July 17, 2009, Ernst & Young Inc. became the Receiver (the "Receiver") in respect of the property of SportsClick.

Green Swan announces that, after having engaged in a process of canvassing and assessing all reasonable alternatives with due diligence, and considering the continuing delays and difficulties of implementing any suitable workout arrangement, it will terminate the Proposed Transaction.

Green Swan continues to investigate its options for obtaining the return of the refundable deposit to SportsClick pursuant to the Proposed Transaction. The receivership process introduces a significant operating risk and management believes the return of the deposit is unlikely.

Green Swan is continuing to pursue and review other businesses and assets with a view to completing a qualifying transaction. Green Swan cannot offer any assurances that a qualifying transaction will be completed.

Information About Green Swan Capital Corp.

Green Swan is a capital pool company which was listed on the TSXV on October 7, 2008, following the completion of its initial public offering of $400,000, including $104,000 raised from founders, Benoit Robitaille (Chief Executive Officer and Director), Chris Skaarup (Director), Morgan Cowl (Director), Dan Hilton (Chief Financial Officer and Director), Sean Caulfeild (Corporate Secretary and Director) and Stephan May (Director).