Toronto, Ontario (FSCwire) - Surrey Capital Corp. (CSE: SYC) (“Surrey Capital” or the “Company”) is pleased to report that further to the Company’s news releases of November 2, 2016, November 16, 2016, November 29, 2016, and December 13, 2016, the acquisition by the Company of the bContact assets (the “Transaction”) has closed.  As consideration for the assets the Company has issued 2,000,000 common shares to the vendor Paul Dickson at a deemed price of $0.03/share, which shares are subject to a statutory hold period expiring on April 16, 2017.   bContact is a cloud-based, easy to use business management solution for small and medium sized organizations that provides integrated customer relationship management, accounting, invoicing, accounts receivable and collections.

Concurrently with the closing of the Transaction, the Company closed a $201,000 private placement financing and issued 6,700,000 common shares at $0.03 per share to newly elected director Harvey Dick, which shares are subject to a statutory hold period expiring on April 16, 2017. As a result of his participation in the private placement, Mr. Dick has become a control block shareholder of the Company and currently holds approximately 27.2% of the issued and outstanding shares of the Company.

At the annual and special meeting of shareholders (the “Meeting”) held earlier today in Toronto shareholders elected Paul Dickson, Ward Munsie, Harvey Dick, Richard Barnowski and Joseph Rauhala to the Company’s board of directors.   The new board has appointed Mr. Dickson as President and CEO and Mr. Munsie as CFO.

Shareholders voted in favour of all business transacted at the Meeting and approved all matters set out in the Company’s information circular dated November 15, 2016 including:

• the waiver of the requirement to call an annual meeting of shareholders no later than 15 months after the previous one;
• the appointment of Davidson & Company LLP as the auditor of the Company for the ensuing year;
• the election of directors as set out above;
• the asset purchase agreement between the Company and Paul Dickson and the acquisition by the Company of the bContact assets;
• the continuance of the Company into British Columbia and new articles of the Company, by special resolution;
• a change of name of the Company to Subscribe Technologies Inc. or such other name as may be determined by the board of directors, by special resolution; and
• the Company’s stock option plan.

The Company will file a revised Form 2A listing statement with the CSE.

On behalf of the Board of Directors,

Surrey Capital Corp.

Paul Dickson, CEO

For more information, please contact:

Paul Dickson

T: (778) 775-7297

E: admin@bcontact.com

This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans” “expects” or “does not expect”, “proposed”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information in respect of the Company reflects the Company’s as the case may be, current beliefs and is based on information currently available to the Company and on assumptions the Company as the case may be, believes are reasonable.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of  preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release represent the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Neither Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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