Woodrose Corporation: Shareholders Approve Sale of Building

WOODROSE CORPORATION (TSX VENTURE:WRS.H) (the "Corporation") July 19, 2011. The
Corporation is pleased to announce that at the special shareholders meeting held
earlier today, shareholders unanimously approved: (i) the sale of the
Corporation's remaining assets, being a commercial building; (ii) a reduction in
the stated capital of the common shares from $1,552,671 to $2,772 for the
purposes of distributing approximately $0.15 per share, with such amounts to be
determined by the board of directors in its sole discretion; and (iii) the
consolidation of the outstanding common shares on the basis of a ratio within
the range of one (1) post-consolidation share for up to five (5) outstanding
pre-consolidation shares, with such ratio to be determined by the board of
directors in its sole discretion. Shareholders also unanimously approved the
election of Darryl Cardey, Darren Devine and Gary Calderwood as directors for
the ensuing year. 


Closing of the sale of the commercial building is expected to close on or about
July 29, 2011 and if completed, the board of directors anticipates that the
proposed distribution of $0.15 per share from the reduction in the paid up
capital of the common shares and an additional one time special dividend of
$0.05 will be paid on the common shares in approximately mid-August, 2011. The
Corporation will issue a further press release confirming the dates of the
proposed distribution, dividend payment and the final share consolidation ratio.



The Corporation is also pleased to announce that the holdback of $250,000 from
the "Perfect Fry" asset sale transaction has been released to the Corporation. 


The proposed special distribution, dividend payment and share consolidation are
subject to the approvals of the TSX Venture Exchange. 


Reader Advisory

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.