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TORONTO, ONTARIO--(Marketwire - May 27, 2010) - Colonnade Capital Corp. ("Colonnade" or the "Company") (TSX VENTURE:COO) is pleased to announce that it has retained GMFB Communications Inc. ("GMFB") as a consultant to provide strategic marketing and investor relation services. GMFB Communications provides investor relations and business consulting services to a select group of resource companies in Canada and the U.S. GMFB will create market awareness among the investment community through its network of institutions, brokers, analysts and other financial professionals. The Toronto based company brings extensive knowledge of capital markets, specializing in the junior resource sector.

The consulting agreement between Colonnade and GMFB is effective from May 17, 2010 for an initial term of six months and thereafter on a month to month basis. GMFB will receive a monthly fee of $2,500. In addition, Colonnade has agreed to grant 175,000 incentive stock options (the "Stock Options") to Adam Chambers, President of GMFB, to acquire up to an aggregate of 175,000 common shares of the Company, which are exercisable at $0.21 per share. The Stock Options will vest in accordance with the TSX Venture Exchange guidelines and the Company's stock option plan. All Stock Options expire on May 26, 2015.

GMFB does not currently own any shares of Colonnade but does hold warrants to purchase up to 226,133 common shares of the Company at $0.15 expiring on May 7, 2012.

GMFB's appointment as an investor relations consultant of Colonnade and the granting of the Stock Options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.

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.