Seymour Ventures Completes Financing

Seymour Ventures Corp. (TSX VENTURE:SEY) ("Seymour" or the "Company") has closed
the non-flow-through portion of the non-brokered private placement previously
announced on November 17, 2010. The non-flow-through portion of the offering,
which was originally planned for $1.95 million, was subsequently increased and
resulted in the Company raising gross proceeds of $4,156,080.50. Under the terms
of the financing, the Company issued an aggregate of 6,393,970 subscription
receipts, at a price of $0.65 per subscription receipt.


The proceeds of the financing are being held in escrow pending completion of the
acquisition (the "Acquisition") of Rare Earth Industries Ltd. (formerly REE
Mining Corp.) ("REI") by Seymour as announced on September 29, 2010. If the
Acquisition is not completed by February 28, 2011, each subscriber will receive
a refund of such subscriber's aggregate subscription funds.


Upon completion of the Acquisition, each subscription receipt will automatically
convert into one unit of Seymour for no additional consideration. Each Unit will
consist of one common share and one-half of one share purchase warrant, with
each full share purchase warrant entitling the holder to acquire one common
share at a price of $0.85 per share until January 17, 2012, and at a price of
$1.25 in the next 6 months thereafter. The warrants are callable by the Company
on 30 days notice in the event that the Company's shares trade at a 50% premium
to the exercise price for a period of 10 consecutive trading days.


In connection with the financing, the Company has issued 287,060 finder warrants
to finders who introduced subscribers for this financing to the Company. Upon
conversion of the subscription receipts, each finder warrant will be exercisable
into one common share of the Company, at a price of $0.73 per share until
January 17, 2012. Upon completion of the Acquisition, the Company will also pay
finder's fees of $41,652.81 and issue 222,979 finder's units in connection with
the financing. Each finder's unit will have the same terms as the private
placements units.


All securities issued in the private placement will be subject to a hold period
expiring on May 18, 2011.


The Company previously closed the flow-through portion of the non-brokered
private placement for gross proceeds of $420,000. The proceeds from the
flow-through financing are also being held in escrow pending completion of the
acquisition of REI, and will be used to finance exploration on the Mount Bisson
property recently optioned by the Company. The net proceeds of the
non-flow-through financing will be used to finance further acquisitions of rare
earth element projects, and for general working capital purposes.


Completion of the transaction with REI is subject to a number of conditions,
including TSX Venture Exchange acceptance and disinterested shareholder
approval. The transaction cannot close until the required shareholder approval
is obtained. There can be no assurance that the transaction will be completed as
proposed or at all.


Investors are cautioned that, except as disclosed in the Filing Statement to be
prepared in connection with the transaction with REI, any information released
or received with respect to the Change of Business may not be accurate or
complete and should not be relied upon. Trading in securities of Seymour
Ventures Corp. should be considered highly speculative.


The TSX Venture Exchange has in no way passed upon the merits of the proposed
transaction with REI and has neither approved nor disapproved the contents of
this press release.


Trading in the common shares of Seymour will remain halted until certain
additional filings are made with the TSX Venture Exchange. The Company will be
making application for the waiver of sponsorship requirements of the TSX Venture
Exchange in the circumstances of the transaction with REI.


ABOUT SEYMOUR VENTURES CORP:

SEYMOUR VENTURES CORP. (TSX VENTURE:SEY) is a digital communications and media
company delivering high quality, low-cost, talk and text around the world.
Through its two wholly owned subsidiaries, Eurotel and Tabrio, the Company
provides voice over IP connectivity to various telecommunication companies
worldwide.


ABOUT RARE EARTH INDUSTRIES LTD.:

Rare Earth Industries Ltd. (formerly REE Mining Corp.) is a private British
Columbia corporation engaged in the acquisition, development and operation of
projects in the emerging rare earth elements industry. The objective of the
Company is to establish an integrated rare earth elements business outside of
China that is both profitable and sustainable. Rare Earth Industries has
assembled management and technical teams with significant experience and
expertise in the rare earth elements industry.


This news release includes forward-looking statements that are subject to risks
and uncertainties. All statements within, other than statements of historical
fact, are to be considered forward looking. Although the Company believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market prices,
exploitation and exploration successes, continued availability of capital and
financing, and general economic, market or business conditions. There can be no
assurances that such statements will prove accurate and, therefore, readers are
advised to rely on their own evaluation of such uncertainties. We do not assume
any obligation to update any forward-looking statements.
Seymour Ventures Corp (TSXV:SEY)
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