/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES/
NISKU, AB, Feb. 29 /CNW/ - Kenneth Longacre has acquired 4,000,000 common
shares ("Common Shares") of Wood Composite Technologies Inc. ("WCT") (being
approximately 9.0% of the issued and outstanding Common Shares) at a price of
$0.15 per share. After giving effect to the acquisition, Mr. Longacre holds
7,163,700 Common Shares (being approximately 16.2% of the issued and
outstanding Common Shares).
The acquisitions took place pursuant to a private placement announced by
WCT on February 11, 2008 ("Private Placement").
If the full amount of the Private Placement is subscribed for, including
the over-allotment option as described in the February 11, 2008 press release
of WCT, Mr. Longacre would hold 7,163,700 or 9.0% of the issued and
outstanding Common Shares.
Mr. Longacre's interest in WCT is for investment purposes only.
Mr. Longacre has no current intention of maldng a take-over bid for WCT.
Mr. Longacre reserves the right from time to time to purchase additional
Common Shares of WCT or to dispose of Common Shares held by Mr. Longacre as
For further information:
For further information: Kenneth Longacre, 2632 Mohawk Circle, West Palm
Beach, FL, 33409, U.S.A., Phone: (561)687-5349