WINDSOR, ONTARIO--(Marketwire - July 31, 2012) -

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 May 9, 2012, June 21, 2012 and June 15, 2012 press releases, it will not proceed with its previously announced private placements of common shares and convertible debentures. As a consequence, the Corporation has also determined not to proceed at the present time with its proposed investment in Wellness Indicators, Inc as described in the Corporation's June 15, 2012 press release.

The Corporation is evaluating and considering 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.