WOOD COMPOSITE TECHNOLOGIES INC. ANNOUNCES SALE OF NISKU PROPERTY

NISKU, AB, April 1 /CNW/ - Wood Composite Technologies Inc. (TSXV: WCT) (the "Company") announced it has entered into an agreement to sell its Nisku property.

The Company has agreed to sell its pellet mill plant location in Nisku, Alberta, along with certain pieces of production equipment to DiCorp Properties Inc. for gross proceeds of $2,325,000 cash.  Real estate commissions totaling 3% of the purchase price will be paid in connection with the sale to Avison Young Real Estate Alberta Inc. The agreement is subject to a number of conditions including the Company obtaining shareholder approval.  In connection with the sale, the Company will need to identify a new location for its executive offices. 

About Wood Composite

Wood Composite is listed on the TSX Venture Exchange under the symbol "WCT" and maintains certain patents and processes that are proprietary to the Company which utilize recycled post industrial materials.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.


SOURCE Wood Composite Technologies Inc.

For further information:

John Greenwood
President and Chief Executive Officer
Telephone: (780) 955-3525
Facsimile:  (780) 955-7075

Website: www.woodcomp.com

Profil de l'entreprise

Wood Composite Technologies Inc.

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