Opta Minerals Inc.

Opta Minerals Inc.

December 22, 2011 07:30 ET

Opta Minerals to Suspend Strategic Review

WATERDOWN, ONTARIO--(Marketwire - Dec. 22, 2011) - Opta Minerals Inc. (TSX:OPM) ("Opta Minerals" or "the Company") today announced that the Board of Directors of Opta Minerals Inc. have decided to suspend the strategic review process that was previously announced on September 7, 2011.

The decision to suspend the strategic review process was based, in part, on an assessment of global market conditions which are currently challenging, combined with a number of actionable near-term growth opportunities within the Company. As a result, the Board of Opta Minerals have concluded that the interests of the shareholders of Opta Minerals are best served by completing and integrating these expansion activities and suspending the strategic review process until further notice.

As part of these growth opportunities, on November 10th, 2011 Opta Minerals announced the acquisition of Inland RC, L.C.C., a manufacturer of pre-cast refractory shapes, injection lances and electric furnace deltas. The business is complementary with current Opta Minerals product offerings and has capacity for growth and significant synergy opportunities. The Company is currently considering additional acquisition opportunities and has identified a number of internal growth opportunities which are currently in development.

David Kruse, President and Chief Executive Officer of Opta Minerals commented, "In order to increase shareholder value, it is important for management of Opta Minerals to focus on internal growth projects and acquisition opportunities without further distraction and effort required from the strategic review process. We will continue to focus on the Company's long-term initiatives and operating strategies, key to the continued development of the Company."

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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