CAV.P Chelsea Acquisition Corporation

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Chelsea Acquisition Corporation ("Chelsea" or the "Corporation") (TSX
VENTURE:CAV.P) announces it has completed its initial public offering
("Offering") raising gross proceeds of $300,000, pursuant to a prospectus dated
December 16, 2011. A total of 3,000,000 common shares in the capital of the
Corporation (the "Shares") were subscribed for at a price of $0.10 per Common
Share. Macquarie Private Wealth Inc. ("Macquarie") acted as the agent for the
Offering. Macquarie received a corporate finance fee and a cash commission equal
to 10% of the gross proceeds of the Offering, as well as an option to purchase
300,000 Common Shares at a price of $0.10 for a period of two years.


The Corporation now has 11,000,000 Common Shares outstanding, with the directors
and officers of Chelsea in aggregate holding 8,000,000 Common Shares.


The Common Shares of Chelsea have been conditionally approved for listing on the
TSX Venture Exchange and are expected to begin trading on Monday, March 5, 2012
under the stock symbol CAV.P


ABOUT CHELSEA

The Corporation is a capital pool company ("CPC") that has not commenced
commercial operations and has no assets other than cash. Except as specifically
contemplated in the CPC policy, until the completion of the qualifying
transaction, the Corporation will not carry on business, other than the
identification and evaluation of companies, business or assets with a view to
completing a proposed qualifying transaction.

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