Mr. Spyros Karellas of Pinnacle Capital Markets reports

TANGELO NEGOTIATING EXTENSION OF OBLIGATION TO LENDER

In light of continuing discussions with certain strategic investors regarding a recapitalization of Tangelo Games Corp.'s balance sheet, Tangelo is negotiating an extension of its principal repayment obligations to its lender, Third Eye Capital Corp. (TEC). TEC has been involved in the company's discussions with third party investors and has agreed to support a strategic transaction under appropriate terms.

The company expects to enter into an amendment with TEC shortly and will update investors with any new developments and details regarding the extension.

We seek Safe Harbor.