Fareport Capital Announces a Special Meeting of Shareholders

Fareport Capital Inc. (TSX VENTURE:CAB) announced today that a special meeting
of shareholders of the Corporation will be held on September 26, 2007 in
Toronto, Ontario for shareholders to consider and approve, among other items of
special business, the proposed private placement transaction, the shares for
debt transaction and the share consolidation transaction (collectively, the
"Transactions") previously announced to shareholders. The Corporation further
announced that a notice of meeting, management information circular and form of
proxy in connection with the special meeting for approval of the Transactions
has been mailed to shareholders and other intermediaries which materials have
also been filed and are available on www.sedar.com. The record date for
shareholders entitled to receive notice of and vote at the meeting has been
determined by the board of directors to be August 24, 2007. The Corporation
previously received TSX Venture Exchange conditional approval for the proposed
Transactions on August 16, 2007.


Following the meeting, and upon receipt of the requisite approval by
shareholders of the Transactions, it is currently expected by the Corporation
that the Transactions will be completed on or prior to September 30, 2007.


Following completion of the Transactions, it is also currently expected by the
Corporation that the financial statements for the three months ended March 31,
2007 will be filed under applicable securities laws on or prior to December 31,
2007. The management and insider cease trade order previously imposed pursuant
to OSC Policy 57-603 will continue to be in effect until the financial
statements for such period are filed under applicable securities laws.

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