Winalta Inc. Finalizes Bank Financing

CALGARY, April 6 /CNW/ - Winalta Inc. ("Winalta" or the "Company") is pleased to announce that it has funded its previously announced credit facilities in the aggregate amount of $20 million with the Alberta Treasury Branch ("ATB").

The $20 million credit facility consists of a $17 million non-revolving term facility and a $3 million operating loan facility (revolving). The Company used $15 million of it $17 million term facility to replace its existing bridge loan. The interest rate for the term facility is prime + 2% and prime + 3% on the operating facility.

"We have seen a great winter drilling season and continued strong demand for our rental fleet. With our new financing in place we will continue to build, to meet that demand." Says Artie T Kos, President and CEO, Winalta Inc.

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 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 management's assessment of future plans and new financing arrangements, contains forward-looking statements.  By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which, including market conditions, are beyond our 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 Corporation 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, SVP 
Phone: (780) 960-6900

Profil de l'entreprise

Winalta Inc.

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