Opta Minerals Inc.

Opta Minerals Inc.

September 07, 2011 07:15 ET

Opta Minerals to Evaluate Strategic Alternatives

WATERDOWN, ONTARIO--(Marketwire - Sept. 7, 2011) - Opta Minerals Inc. (TSX:OPM) ("Opta Minerals" or "the Company") today announced that, following discussions with SunOpta Inc., the Board of Directors of Opta Minerals Inc. has commenced a process to identify and review strategic alternatives to enhance shareholder value. The Board of Directors of Opta Minerals has retained Canaccord Genuity Corp. to act as exclusive financial advisor in the strategic review process.

Jeremy Kendall, Chairman of the Board of Opta Minerals Inc., commented, "We believe that this is an appropriate time for Opta Minerals to explore alternatives to enhance shareholder value. The process is being undertaken in the context of recent events, including the recovery in the industrial sector and the Company's continued progress in developing a profitable and growing global operating platform. As we go through this process, we will continue to focus on the Company's long-term initiatives and operating strategies, key to the continued development of the Company."

"Opta Minerals continues to make solid progress in executing our long-term strategic plan," said David Kruse, CEO, President and Director. "We are focused on continuing to grow and leverage the profitable global operating platform that we have built and are confident in our future prospects. This review will further position the Company for continued growth and I am pleased that the Board of Directors has undertaken this process. In the meantime, it is business as usual for our valued employees, customers and suppliers."

There is no defined timeline for this strategic review and there can be no assurance that the review of strategic alternatives will result in any specific action. The Company does not intend to comment further regarding the evaluation of strategic alternatives, unless a specific transaction or process is concluded, or it otherwise deems further disclosure is appropriate or required.

About Opta Minerals

Opta Minerals Inc. is a vertically integrated provider of custom process optimization solutions and related materials for use primarily in the steel, foundry, loose abrasive cleaning and municipal water filtration industries. The Company currently has offices and production and distribution facilities in Ontario, Québec, Louisiana, South Carolina, Virginia, Maryland, Indiana, Ohio, Michigan, New York, Texas, Florida, Kosice (Slovakia), and Romans-sur-Isère (France) and has one of the broadest product lines in the industry.

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