Woodrose Corporation
TSX VENTURE : WRS.H

August 12, 2011 17:12 ET

Woodrose Corporation: Special Distribution and Dividend of $0.20

CALGARY, ALBERTA--(Marketwire - Aug. 12, 2011) - WOODROSE CORPORATION (TSX VENTURE:WRS.H) (the "Corporation") August 12, 2011. The Corporation is pleased to announce that pursuant to the approval of shareholders received on July 19, 2011, the stated capital of the common shares has been reduced from $1,552,671 to $2,772 resulting in a special distribution of $0.15 per common share.

The Corporation is also pleased to announce that a one time special dividend of $0.05 has been declared on the common shares. For Canadian resident shareholders the special dividend is designated as an "eligible dividend" for purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) ("Tax Act") and any corresponding provincial and territorial tax legislation. The payment of the special dividend to non-resident Canadian shareholders will be subject to with-holding taxes in accordance with the provisions of the Tax Act.

The special payment of $0.15 per share and special dividend of $0.05 per share will be payable to shareholders of record on August 19, 2011, on or about August 24, 2011.

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Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, anticipated distributions or dividends to shareholders. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Consequently, there is no representation that the distributions or dividends actually paid to shareholders, if any, will be the same, in whole or in part, as those set out in the forward-looking information.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Investors are cautioned not to place undue reliance on forward-looking information.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state of the United States or any other jurisdiction outside of Canada in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act of 1933 and applicable state securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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