Winalta Announces Termination of Previously Announced Sale

CALGARY, Dec. 31, 2012 /CNW/ - Winalta Inc., ("Winalta" or the "Company") further to the previous announced sale of its Sylvan Lake lands asset on November 14, 2012, announces the termination of the sale due to the failure of the purchaser to satisfy its conditions to closing. In accordance with the agreement, Winalta has retained the previously announced deposit of $200,000.

Winalta will continue to undertake its efforts to sell this last remaining non core asset.

Winalta Inc., operating under the trade name, Winalta Oilfield Rentals, is an oilfield service provider that specializes in portable industrial rental accommodations, remote offices and Dedicated Geo Labs; servicing the Western Canadian oil and gas Industry.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Certain information set forth in this press release, including the timing of the closing of the sale transaction may constitute forward-looking statements. By their nature, forward-looking statements involve material assumptions and are subject to numerous risks and uncertainties, including with respect to market and economic conditions and their impact on the Company's business, some of which, are beyond the Company's control. Readers are cautioned not to place undue reliance on the forward-looking statements as the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and actual results, performance or outcomes could materially differ from those expressed or implied in such forward-looking statements and accordingly, no assurance can be given that any of the events anticipated by forward looking statements will transpire or occur, or if any of them do so, what benefit Winalta will derive there from. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

SOURCE: Winalta Inc.

For further information:

David Hopley, CFO
Phone: (780) 960-6900

Austin Fraser, Senior Vice President
Phone: (403) 826-5701
winalta@winaltainc.com

Profil de l'entreprise

Winalta Inc.

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