Aspenwood Places U.S. Portion of ID Watchdog IPO

Denver Identity Theft Prevention Firm Now Positioned To Fund Growth

DENVER, Colo., Sept. 18, 2008 – Aspenwood Capital (www.AspenwoodCapital.com), a Denver-based investment bank, announced today that it has raised $4.2 million in a private placement for ID Watchdog, Inc., successor to and parent corporation of Identity Rehab Corporation, d/b/a ID Watchdog (www.IDwatchdog.com) of Denver, bringing the total it has placed for the identity theft protection company to $12.4 million.

Concurrent with the U.S. private placement, ID Watchdog, Inc. completed an initial public offering in Canada and will be traded under the symbol IDW on the TSX Venture Exchange, a Canadian stock exchange based in Calgary. The offering of 17,000,000 units at a price of Cdn $0.60 per unit, resulted in gross proceeds of Cdn $10,200,000, including the US $4.2 million from the U. S. private placement.

Each unit consisted of one ordinary share of ID Watchdog stock and a purchase warrant equivalent to a half share of ordinary stock. Each warrant entitles the holder to purchase one additional ordinary share at a price of Cdn $0.90 per share for a period of 24 months from the listing date.

Aspenwood also completed private placements for Identity Rehab Corporation that raised $3.7 million in July 2007, $3.5 million in February 2008, and $1 million in May and June 2008.
“Aspenwood continues to play an invaluable role in helping ID Watchdog raise the funds it needs to succeed,” said Justin Yurek, president of ID Watchdog.

Investors in the earlier 2008 private placement were issued convertible preferred shares. Concurrent with completion of the IPO, ID Watchdog’s preferred shares (1,750,000 Series A and 497,500 Series B convertible preferred shares) automatically converted into 10,597,068 ordinary shares and 5,298,534 warrants, with each warrant having the same terms as the warrants issued under the IPO.
Upon the completion of the initial public offering and the preferred share conversions, a total of 49,698,765 ordinary shares are issued and outstanding.

The funds, which will primarily be used for customer acquisition, will enable ID Watchdog to further expand its subscriber-based business.

“We are gratified by our role in helping ID Watchdog raise the financial resources it needs to tap its true business potential and solidify its position as the country’s leading identity theft protection company,” said Aspenwood Capital Partner Steve Ossello. “We also appreciate the confidence of the investors in fully subscribing to the IPO despite the turbulent markets we’re in – a testament to their excitement regarding ID Watchdog’s outstanding product and management team.”

The securities issued in the US private placement have not been registered under the Securities Act of 1933, as amended. Accordingly, these securities may not be offered or sold in the United States, except pursuant to the effectiveness of a registration statement or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities.

About Aspenwood Capital
Aspenwood Capital (www.AspenwoodCapital.com) of Denver, Colo., the Investment Banking Division of Green Drake Capital Corp. (www.AspenwoodCapital.com), a member of FINRA/SIPC, specializes in providing investment banking services to small-cap public issuers and select private companies. Aspenwood Capital focuses primarily on private placements and providing strategic advice for public companies, as well as taking private companies public through alternative public offerings.

About ID Watchdog
Headquartered in Denver, ID Watchdog is the only identity theft detection and resolution company that provides patent-pending three-tiered comprehensive detection, monitoring and resolution for identity theft. Unlike its competitors, ID Watchdog detects identity theft problems at their source. The solutions were developed with assistance from the U. S. Postal Service, state and local law enforcement officials and several state district attorneys and have been endorsed by the Arizona and Colorado Bankers Associations. Since credit reports reflect only a portion of identity theft, ID Watchdog PlusSM, the company's most comprehensive offering, analyzes thousands of databases in 13 critical areas, including motor vehicle, medical, criminal, social security and national security records, among others, and often detects activity before there is any financial or personal impact to individuals. The company’s products are available for purchase by consumers or businesses either individually or as an inclusive suite. For more information, please visit www.IDwatchdog.com.