Winalta Announces Approval of a Quarterly Dividend and Reductions in Interest Rates on Key Credit Facilities

    




 CALGARY, April 30, 2012 /CNW/ - Winalta Inc.  ("Winalta" or  the "Company") is pleased to announce that after a successful  transition year, strong operational performance and attaining a solid  financial position, the Board of Directors has approved implementation  of a quarterly dividend policy. The first dividend will be $0.01 per  share and will be paid on May 31, 2012 to shareholders of record on May  14, 2012. This dividend is an eligible dividend for Canadian tax  purposes. 

 The Company has successfully negotiated certain terms and conditions of  its main credit facilities, including the interest rates for both the  operating line and term facility which have been reduced from prime  base plus 2.0% and 3.0% to 1.25% and 1.75% respectively. The company  was also successful in extending the term of its facilities from one  year to two years, with a new due date of April 30, 2014. The operating  loan facility is secured by accounts receivable and the term loan  facility is secured by the oilfield equipment rental assets. There were  no other material changes to the credit limits, or any other key terms  of the facilities. 

 Winalta Inc., operating under the trade name, Winalta Oilfield Rentals,  is an oilfield service provider that specializes in portable industrial  rental accommodations, remote offices and Dedicated Geo Labs; servicing  the Western Canadian oil and gas Industry. 

 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. 

 Forward-looking information 

 Certain information set forth in this press release, including  management's assessment of the timing of future dividend payments may  constitute forward-looking statements. By their nature, forward-looking  statements involve material assumptions and are subject to numerous  risks and uncertainties, including with respect to market and economic  conditions and their impact on the Company's business, some of which,  are beyond our control. Readers are cautioned not to place undue  reliance on the forward-looking statements as the assumptions used in  the preparation of such information, although considered reasonable at  the time of preparation, may prove to be imprecise and actual results,  performance or outcomes could materially differ from those expressed or  implied in such forward-looking statements and accordingly, no  assurance can be given that any of the events anticipated by forward  looking statements will transpire or occur, or if any of them do so,  what benefit Winalta will derive therefrom. The Company does not assume  the obligation to revise or update this forward-looking information  after the date of this release or to revise such information to reflect  the occurrence of future unanticipated events, except as may be  required under applicable securities laws. 

Winalta Inc.


CONTACT:  David Hopley, CFOPhone: [phone]Austin Fraser, Senior Vice PresidentPhone: (403) [e-mail] 


    

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