CALGARY, Sept. 25 /CNW/ - Winalta Inc. (Winalta) advises that its primary operating facility agreement expired August 31, 2009 and since that date, Winalta has been in continuing discussions with its lender to establish a new operating facility agreement. Until such time as a new credit agreement is negotiated there can be no assurance that the lender will not exercise its right to demand payment. Winalta continues to execute on its plan of divesting of non-revenue generating assets with the proceeds of such sales to be used to further reduce debt.
Winalta Inc. is an integrated company with three main operating divisions, Homes, Industrial, and Manufacturing. The Homes Division sells CSA approved homes via retail centers, communities and supply arrangements. The Industrial Division leases portable industrial accommodations and provides construction services that include excavating, aggregate trucking and paving. The Manufacturing Division builds CSA approved homes and portable industrial accommodations from facilities near Spruce Grove, Alberta.
Winalta Inc. shares trade on the TSX Venture Exchange under the symbol "WTA.A".
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
The words "believe", "expect", "intend", "anticipate", or any variation of such words and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Winalta undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by securities laws.
SOURCE Winalta Inc.
For further information: For further information: Business Contact, Ron Berg, President & CEO, Winalta Inc., email@example.com, Tel: (780) 960-6900, Fax: (780) 962-9523, www.winaltainc.com; Austin Fraser, VP Corporate Development & Investor Relations, Tel: (403) 475-4698