Winalta Inc.

Winalta Inc.

December 13, 2006 19:15 ET

Winalta Inc. and Jeffman Enterprises Ltd. Announce Amendment and Extension

EDMONTON, ALBERTA--(CCNMatthews - Dec. 13, 2006) -

Jeffman Enterprises Ltd. operating as Sundance Oilfield Rentals Inc. ("Sundance") together with Winalta Inc. (TSX VENTURE:WTA.A) ("Winalta") announce that they have entered into an Amending Agreement in which the parties agree to establish the effective date of the Sundance acquisition as December 15, 2006 with the closing to occur no later than January 31, 2007. In consideration, Winalta has agreed to amend the price of the $700,000 Winalta common shares, subject to exchange approval, to $2.15 per share.

Winalta Inc. and through its subsidiaries, is a land developer in Western Canada as well as a producer of manufactured CSA certified homes and site-built homes. In addition through its wholly-owned subsidiary, Vanguard Inc. manufactures industrial trailers and camps at North Battleford, Saskatchewan.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Winalta Inc.
    Layne Wilk
    Interim President
    (780) 960-6900