Thornapple Capital, Inc. Announces Termination of Proposed Qualifying Transaction

TORONTO, ONTARIO--(Marketwire - May 9, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Thornapple Capital, Inc. (TSX VENTURE:THN.P) (the "Corporation" or "Thornapple") announces that Agility Health, Inc. ("Agility") and the Corporation have terminated the letter of intent dated October 3, 2011, and as a result Thornapple's proposed qualifying transaction with Agility will not be completed.

Thornapple did not advance any funds to Agility in connection with the proposed qualifying transaction.

Thornapple will continue to pursue and evaluate other businesses and assets with a view to completing a qualifying transaction and will make further announcements with respect to these efforts as soon as practically possible.

The common shares of Thornapple are expected to resume trading on May 11, 2012.

Investors are cautioned that trading in the securities of a CPC should be considered highly speculative.

Cautionary Statements

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information relating to the completion of a qualifying transaction. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material factors and assumptions include the availability of a suitable party to pursue a qualifying transaction with and TSX-V policies not changing. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: conditions imposed by the TSX-V, the failure to complete a qualifying transaction; changes in tax laws, general economic and business conditions; and changes in the regulatory environment. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this press release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Thornapple is a CPC governed by the policies of the TSX Venture Exchange. Thornapple's principal business is the identification and evaluation of assets or businesses with a view to completing a qualifying transaction.