Abcana Terminates Qualifying Transaction

ABCANA CAPITAL INC.

910 – 1050 West Pender Street Vancouver, B.C. V6E 3S7

ABCANA TERMINATES QUALIFYING TRANSACTION

August 28, 2012 TSX Venture Exchange Trading Symbol: ABQ.P

Abcana Capital Inc. (the “Company”), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the “TSX-V”), announces that the Securities Exchange Agreement dated May 4, 2012 with New Coal Energy Pty Ltd and the new Coal Energy Pty Ltd shareholders, has been terminated. Abcana will continue to review other acquisition opportunities with a view to complete a qualifying transaction. Trading in the Abcana common shares is expected to recommence next week.

On behalf of the Board of Directors

Shaun Maskerine President and Chief Executive Officer

Telephone: 604.689.0299

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.