PCP.P Pender Street Capital Corp

Petrolympic Ltd. ("Petrolympic" or the "Company"; (TSX VENTURE:PCP.P), formerly
known as Pisces Capital Corp., a Capital Pool Company, is pleased to announce
that it has closed its previously announced Qualifying Transaction with
Petrolympia Inc. ("Petrolympia"), a Quebec-based junior oil and gas exploration
company. Concurrent with the completion of the Qualifying Transaction,
Petrolympic also closed its previously announced prospectus offering which
raised gross proceeds of $3,051,500 (the "Offering") via CTI Capital Inc. and
Research Capital Corp. (the "Agents"), with the assistance of Foundation Markets
("Foundation") which acted as financial advisor to Petrolympia and assisted in
coordinating the arms length financing. The TSX Venture Exchange has
conditionally approved listing of the common shares of Petrolympic, subject to
receipt from the Company of final submission documents, and it is expected that
trading of the common shares of Petrolympic under the new symbol "PCQ" will
commence on or about January 3, 2008.


The activities of Petrolympia, now a wholly-owned subsidiary of Petrolympic,
constitute the entirety of the operations of Petrolympic. As part of the
Qualifying Transaction, the former shareholders of Petrolympia received
48,147,111 common shares of Petrolympic at a price of $0.18 per share, of which
44,444,445 will be subject to an escrow period of 3 years with 10% of the shares
being released from escrow upon completion of the Qualifying Transaction and 15%
the balance of the shares being released every 6 months. The Company now has a
total of 70,754,849 common shares issued and outstanding. The new Board of
Directors of Petrolympic is comprised of Mendel Ekstein, Alain Fleury, Andreas
Jacob, Enrique Lopez de Mesa, Frank Ricciuti, Gerald U. Fong, and Miles Pittman.
For a more detailed description of the Qualifying Transaction, together with
complete biographies of each Board member, please consult Pisces' Final
Prospectus dated November 28, 2007, available on SEDAR.


At the closing of the Offering, Petrolympic issued 3,803 "A" Units, 800 "B"
Units, and 1,500 "C" Units. Each "A" unit consisted of 2,000 flow-through shares
at a price of $0.20 per share, 556 common shares at a price of $0.18 per share,
and 1,556 purchase warrants. Each "B" unit consisted of 2,500 flow-through
shares at a price of $0.20 per share and 1,250 purchase warrants. Each "C" unit
consisted of 2,778 common shares at a price of $0.18 per share and 2,778
purchase warrants. Each purchase warrant gives its holder the right to purchase
one common share at a price of $0.25 per share at any time until the second
anniversary of the closing of the Offering.


Petrolympic has agreed to renounce in favour of flow-through subscribers of the
Offering, Canadian Exploration Expenses incurred as a result of planned
exploration programs. Each flow-through share included in the "A" and "B" units
will allow its holder to claim income tax deductions of 100% at the federal
level and, in Quebec, of 150% at the provincial level. Subscribers residing
outside Quebec will, for provincial income tax purposes, have the right to the
same deductions as those allowed at the federal level.


In consideration of its services, the Agents received a corporate finance fee of
$27,500 (plus applicable taxes). The Agents also shared a cash commission of
$221,392.50 and 1,199,827 broker warrants with members of the selling group. The
broker warrants allow their holders to purchase, at any time until the second
anniversary of the closing of the Offering, 239,227 common shares at a price of
$0.18 per share (such broker warrants issued in respect of the sale of common
shares) and 960,600 common shares at a price of $0.20 per common share (such
broker warrants issued in respect of the sale of flow-through shares).


Petrolympic Ltd.

Petrolympic holds more than 113,906 hectares (281,468 acres) of exploration
permits in the Appalachian Basin of Quebec that include holdings in the Gaspe
Peninsula and The St. Lawrence Lowlands. The Gaspe block of exploration permits
total 40,885 hectares and are located between Rimouski and Matane in the
Province of Quebec immediately southwest of Lake Matapedia. The St. Lawrence
Block of exploration permits is located on the south shore of the St. Lawrence
directly south of Valleyfield less than 30 kilometres southwest of Montreal in
the Province of Quebec.


Petrolympic commenced a new phase of exploration in the fall of 2006 including
seismic testing and prior data reprocessing to identify high-value drilling
targets. Funds raised from the Offering will be used for the Phase II
exploration of the Gaspe and Phase I exploration of the St. Lawrence Lowlands.


CTI Capital Inc.

Founded in 1987, CTI capital Inc., is a full-service boutique securities dealer,
offering debt and equity trading, portfolio management, research, retail
brokerage, and investment banking services. The investment banking arm
specializes in initial public offerings and new issues, private placements,
reverse take-overs, Capital Pool Companies, mergers and acquisitions, and
exchange sponsorships for emerging growth-oriented companies.


Research Capital Corporation

Research Capital Corporation is a fully integrated Investment Dealer operating
on a national platform with offices in Vancouver, Calgary, Regina, Toronto, and
Montreal. Research has built its foundations around experiences and capable
professionals focused on serving Canadian growth companies and has been
delivering results since 1921.


Foundation Markets Inc.

Foundation Markets is a Toronto-based investment banking firm and Limited Market
Dealer committed to assisting small to medium-sized companies with rapid-growth
potential. The firm specializes in working with companies at a pre-public stage
to raise capital and prepare for a going-public transaction, assisting clients
to manage the entire process. The firm maintains an international perspective
and is able to assist companies in emerging markets as well as introduce
international opportunities to Canadian businesses.


This press release is not an offer of the securities described above for sale in
the United States (the "securities"). The securities offered have not been
registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or applicable exemption
from the registration requirements. Any public offering of the securities to be
made in the United States will be made by means of a prospectus that may be
obtained from Petrolympic and that will contain detailed information about the
Company and management, as well as financial statements. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.

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