Winalta Inc.

Winalta Inc.

August 30, 2007 18:45 ET

CORRECTION FROM SOURCE: Winalta Inc. Announces Exclusive Agreement with Major Edmonton Land Developer

EDMONTON, ALBERTA--(Marketwire - Aug. 30, 2007) - In the press release issued August 30, 2007 at 17:16 ET there was an error. In the fourth paragraph Larry Andrews' name was incorrectly spelled Andres. The corrected release follows:

Winalta Inc. ("Winalta") (TSX VENTURE:WTA.A) is pleased to announce that it has signed a Memorandum of Agreement with Landrex Inc. ("Landrex"), a large land developer in the Alberta marketplace, whereby Winalta will have exclusive rights to provide homes in three residential communities in the Edmonton area. The communities are located in Villeneuve, Morinville and Gibbons, and will provide approximately 1,900 single family lots designated for manufactured and modular housing.

Landrex will be responsible for the servicing of the land with Winalta acquiring the lots once building permits are obtained. Winalta and Landrex will work together to ensure that an orderly supply of affordable attractive homes are available in these communities. With the significant upgrader development in the Edmonton region, Winalta and Landrex believe that this alliance will respond to continuing demand for housing in the area. The first lots are slated to be available in 2008.

"This is an outstanding opportunity for Winalta to work with a first class developer such as Landrex and to provide affordable housing in the communities surrounding Edmonton. Landrex has an established reputation of quality developments and we are very excited to be able to combine our expertise to offer high quality affordable communities in Alberta", says Artie T. Kos, President of Winalta.

"With the challenges in today's marketplace in securing trades and building quality product at affordable prices, we believe that joining with Winalta in providing manufactured homes is clearly a win-win for all parties. Winalta manufactures an excellent product which will be attractive to the marketplace and will provide Albertans with affordable housing", says Larry Andrews, President of Landrex.

Winalta Inc. and through its subsidiaries, is a land developer in western Canada as well as a producer of manufactured and modular CSA certified homes and site built homes. In addition, it manufactures industrial trailers and camps.

Winalta Inc. shares trade on the TSX Venture Exchange under the symbol "WTA.A."

Contact Information

  • Winalta Inc.
    Artie Kos
    President and CEO
    (780) 960-6900
    Winalta Inc.
    Garry Wetsch
    VP of Community Development
    (780) 421-9349