Wood Composite Announces Release of June 30, 2012 Interim Financial Statements, Annual and Special Meeting Results and Plan for

    




 EDMONTON,AB, Aug. 9, 2012 /CNW/ - Wood Composite Technologies Inc.  (the "Company") is pleased  to announce the release of its financial and operating results for the  six months ended June 30, 2012 ("the Interim Financial Statements").   The Interim Financial Statements have been filed via SEDAR and are  accessible at www.sedar.com. 

 The Company also reports that at the recently held annual and special  meeting of shareholders all matters of business presented were passed  with overwhelming support from the shareholders present in person and  by proxy.  That included two special resolutions, one relating to the  reduction of stated capital by the Company and the other relating to  the dissolution of the Company. 

 Accordingly, the Company plans to pay a special distribution to  shareholders presently estimated at $0.044 per share, subject to  regulatory approval.  The distribution is intended to be a return of  capital. 

 The Company plans to issue an additional press release relating to the  record date and the timing of payment of the distribution which is  anticipated occur within 6 weeks.  It is further expected that the  Company will proceed to dissolve on or about the time of the  distribution. 

 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 utilizes recycled post industrial materials. 

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

Wood Composite Technologies Inc.


CONTACT:  John GreenwoodPresident and Chief Executive OfficerTelephone: [phone]Facsimile:  [phone]Website: www.woodcomp.com 


    

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