WOOD COMPOSITE TECHNOLOGIES INC. ANNOUNCES CLOSING OF SALE OF NISKU PROPERTY AND PELLET MILL EQUIPMENT AND THE RELEASE OF ITS IN

NISKU, AB, June 22, 2011 /CNW/ -- 
NISKU, AB, June 22, 2011 /CNW/ - Wood Composite Technologies Inc.
 (TSX-V: WCT) (the "Company") is pleased to announce it has completed an
 early closing of the sale of its Nisku property and has sold certain
 pellet mill equipment.  The Nisku property transaction was previously
 scheduled to close on July 24, 2011.


Further to the announcements on April 1 and May 13, 2011, the Company
 has completed the sale of its pellet mill plant location in Nisku,
 Alberta along with certain pieces of production equipment to DiCorp
 Properties Inc. for gross proceeds of $2,325,000 cash.


The Company has leased back a portion of the property to maintain its
 executive offices as well as to store and sell inventory until
 September 30, 2011.


The Company also announced it has sold a portion of the remaining pieces
 of its pellet mill equipment for gross proceeds of $101,700 cash
 including GST.  Although there is no formal agreement existing at this
 time for future pellet production services, the Company expects that it
 will be able to secure custom pellet production services from a range
 of service providers as and when and if the company determines it
 requires them, if ever.


The Company is also pleased to announce the release of its financial and
 operating results for the three months ended March 31, 2011 (the
 "Interim Financial Statements").  The Interim Financial Statements have
 been filed today via SEDAR and are accessible at www.sedar.com.


About Wood Composite


Wood Composite is listed on the TSX Venture Exchange under the symbol
 "WCT" and maintains certain patents and processes that are proprietary
 to the Company which utilize recycled post industrial materials.





The TSX Venture Exchange does not accept responsibility for the adequacy
 or accuracy of this release.


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p John Greenwoodbr/ President and Chief Executive Officerbr/ Telephone: [phone]br/ Facsimile:  [phone]br/ Websites: a href="http://www.woodcomp.com/"www.woodcomp.com/a. /p 

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