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TORONTO, ONTARIO--(Marketwire - Sept. 25, 2009) - Counsel Corporation ("Counsel") (TSX:CXS) announced today that it has issued 900,000 common shares at $0.75 per share, for total proceeds of $675,000, pursuant to the exercise of an over-allotment option in connection with its July 24, 2009 private placement of common and Series B preferred shares. On July 24, 2009, Counsel completed a private placement of common shares and a new series of convertible Series B preferred shares for aggregate proceeds of approximately $23.7 million. All amounts are stated in Canadian dollars unless noted.

About Counsel Corporation
Counsel Corporation (TSX:CXS) is a private equity investor and alternative asset manager that actively partners with businesses to achieve shared success and to unlock value through leveraging its relationships, access to capital and strategic market experience. For further information, please visit Counsel's website at [ www.counselcorp.com ].

Forward-Looking Statements
The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address Counsel's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which Counsel currently operates, but because of the factors listed herein, as well as other factors beyond Counsel's control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in Counsel's securities and other regulatory filings.