TORONTO, ONTARIO--(Marketwire - Dec. 30, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Essex Angel Capital Inc. (TSX VENTURE:EXC) (the "Corporation") announces that, further to its October 31, 2011 press release, as a result of unfavourable market conditions, it will not proceed with its previously-announced proposed private placement of common shares. As a consequence of the termination of the proposed private placement, the Corporation has also determined not to proceed with its further investment Wellness Indicators, Inc. ("Wellness") at the present time. The Corporation has been advised by Wellness that Wellness secured alternative financing to fund its current capital requirements.

The Corporation is continuing to evaluate and consider financing alternatives to enable it to make additional investments in accordance with its investment policy.

This news release does not constitute an offer to sell or solicitation of an offer to sell any of the Common Shares in the United States. The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release contains certain forward-looking statements about the Corporation's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect Management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements included or incorporated by reference in this press release include statements with respect to future securities offerings, the future investment by the Corporation in Wellness and prospective future investments.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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