NISKU, AB, April 1 /CNW/ - Wood Composite Technologies Inc. (TSXV: WCT)
(the "Company") announced it has entered into an agreement to sell its
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
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:
President and Chief Executive Officer
Telephone: (780) 955-3525
Facsimile: (780) 955-7075