PISCES CAPITAL CORP. ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING

August 31, 2006: Pisces Capital Corp.("Pisces") is pleased to announce that it has completed its initial public offering of 3,664,200 common shares at the price of $0.15 per common share and has filed for listing as a Capital Pool Company on the TSX Venture Exchange. Leede Financial Markets Inc. acted as agent on the offering. The common shares of Pisces are expected to commence trading on the TSX Venture Exchange at the opening of markets on approximately September 6, 2006 under the trading symbol "PCP.P".

As a result of the closing of this offering, Pisces now has 5,664,200 common shares issued and outstanding (2,000,000 of which are subject to escrow restrictions), 366,420 reserved for issuance upon the exercise of options granted to Leede Financial Markets Inc. and 566,420 common shares reserved for issuance upon the exercise of stock options.

Pisces's board of directors and management team is comprised of the following individuals: Lloyd MacLean (President, CEO and a director), James Phillipson (CFO, Corporate Secretary and a Director), Paul Marsiglio (Director), David Tsubouchi (Director), Pierre Gagnon (Director), Phil Droznika (Director) and Julio DiGirolamo (Director).