Press Releases

Winalta Inc. Announces New Revolving Term Facility

Winalta Announces Change in Stock Symbol

November 24, 2011 - (TSXV: WTA.A) Winalta Inc. Announces Record Results for the Third Quarter Ended September 30, 2011

August 29, 2011 - Winalta Inc. (TSXV: WTA.A) is pleased to announce its financial results for the three months ended June 30, 2011.

June 29, 2011 - Winalta Inc. is pleased to announce its financial results for the three months ended March 31, 2011.

May 20, 2011 - Kos Corp. Investments Ltd. ("Kos") announces that it has acquired, through its wholly owned subsidiary Kos Win Inc., 1,300,000 class "A" common shares (the "Winalta Shares") of Winalta Inc. ("Winalta") or 3.24% of total outstanding, through the facilities of the TSX Venture Exchange.  As a result of the transaction, Kos owns 22,185,575 Winalta Shares (55.36%).

April 29, 2011 - Winalta Inc. (TSXV: WTA.A) is pleased to announce its financial results for the 2 month stub year-ended December 31, 2010, due to change in year end from October 31 to December 31

April 6, 2011 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce that it has funded its previously announced credit facilities in the aggregate amount of $20 million with the Alberta Treasury Branch ("ATB").

March 31, 2011 - Winalta Inc. (TSX-V - "WTA.A") announces the Board of Directors of the Company has approved a change of the year-end for the Company so that on a go forward basis, Winalta will report financial results with a December 31 year-end.  The Company anticipates filing results for a two-month stub following compilation of its December 31, 2010 financial results. As a result of the change in financial year-end, the company will be adopting IFRS effective January 1, 2011. The implication thereof is that the company will be re-stating its financial results, under IFRS, for the 2010 corresponding comparative numbers, when reporting during the 2011 financial year.

March 2, 2011 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce its financial results for the year-ended October 31, 2010, a period during which the Company completed and emerged from a  restructuring under the Companies' Creditors Arrangement Act (Canada) (the "CCAA").

March 2, 2011 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce its financial results for the year-ended October 31, 2010, a period during which the Company completed and emerged from a  restructuring under the Companies' Creditors Arrangement Act (Canada) (the "CCAA").

February, 22 2011 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce that it has entered into a commitment letter in respect of new credit facilities in the aggregate amount of $20 millionwith the Alberta Treasury Branch ("ATB"). The credit facility consists of a $3 million operating loan facility (revolving) and a $17 million non-revolving term facility.

February 3, 2011 - Winalta Inc. (TSX-V - "WTA.A") wishes to announce that it has received final regulatory approval for the shares for debt arrangements with four of the Corporation's unsecured creditors previously announced in a press release issued December 22, 2010. The escrow conditions imposed by the TSX Venture Exchange have now been lifted with respect to the shares issued to a company controlled by Mr. Artie Kos, President and Chief Executive Officer of the Corporation. 

Janary 20, 2011 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce that it has signed an agreement with Nabors Drilling, a division of Nabors Canada ("Nabors") to begin marketing and operating all Nabors' non-contracted drilling camps. The three year agreement became effective January 19, 2011 and includes an option to renew for an additional three years to be mutually agreed on by both parties.  

December 22, 2010 - Winalta Inc. (TSX-V - "WTA.A") wishes to announce that it has entered into shares for debt arrangements with four of the Corporation's unsecured creditors, representing approximately 90% of Corporation's outstanding promissory notes, including a company controlled by Mr. Artie Kos, President and Chief Executive Officer of the Corporation. The Corporation has today issued an aggregate of 4,402,802 common shares at a price of $0.50 per share and has in exchange, retired debt in the aggregate amount of $2,201,401. In addition to the required 4 month hold period which expires April 23, 2011, the shares are subject to a contractually imposed hold period which will expire on December 22, 2011.

November 1, 2010 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce that further to its press release of October 22, 2010, the Effective Date as defined in Plan of Arrangement pursuant to the Companies' Creditors Arrangement Act (Canada) has now occurred and Winalta, together with its subsidiary companies Winalta Carriers Inc., Winalta Oilfield Rentals Inc. and Baywood Property Management Inc. has been amalgamated to form Winalta Inc.

October 22, 2010 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce that further to its pressreleases of April 26, September 24 and October 14, 2010, the Companyhas now received court and creditor approval for its Plan ofArrangement (the "Plan") pursuant to the Companies' Creditors Arrangement Act (Canada) (the "CCAA") pursuant to an Order granted on October 22, 2010by the Court of Queen's Bench of Alberta, Judicial Centre of Edmonton(the "Court") and a vote by the affected secured creditors of theCompany held on October 14, 2010, as required by the Court.  Winalta,together with its subsidiary companies Winalta Carriers Inc., WinaltaOilfield Rentals Inc. and Baywood Property Management Inc. will now beamalgamated to form Winalta Inc. ("New Winalta") and will emerge from CCAA protection to begin focusedoperations on their oilfield services business. New Winalta will nothave any material subsidiaries.

October 14, 2010 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce that the Company in combination with its wholly owned subsidiaries Winalta Oilfield Rentals Inc., Winalta Carriers Inc. and Baywood Property Management Inc., have received approval of their proposed consolidated plan (the "Plan") from the affected creditors submitted to them pursuant to the provisions of the Companies' Creditors Arrangement Act ("CCAA"). At a meeting held on October 14, 2010, 100% of the creditors who hold unsecured debt affected by the Plan voted in favour of the Plan. Having obtained the requisite votes in each class, Winalta will seek a sanction order in respect of the Plan. The sanction hearing under the CCAA process is scheduled to occur on October 22, 2010 in the Court of Queen's Bench of Alberta, Judicial Centre of Edmonton (the "Court").

September 29, 2010 - Winalta Inc. (TSX-V - "WTA.A") today announced financial results for its fiscal 2010 third quarter ended July 31, 2010. The Company reports that EBITDA for the three months ended July 31, 2010 was negative $0.4 million relative to positive $0.4 million in 2009. Included in the July 31, 2010 EBITDA is areorganization charge of $0.6 million due entirely under the Companies'Creditors Arrangement Act (Canada) (CCAA). The Company incurred a net loss from continuing operations of $1.5 million on revenues of $1.9 million ($0.04 loss per share fully diluted) for the three months ended July 31, 2010 compared to net loss from continuing operations of $1.5 million on revenues of $1.3 million ($0.04 loss per share fully diluted)in 2009. The Company incurred a net loss from discontinued operations of $10.6 million ($0.30 loss per share fully diluted) for the three months ending July 31, 2010 compared to a net loss from discontinued operations of $3.9 million ($0.11 loss per share fully diluted) for the comparative quarter in 2009. The combined continuing and discontinued operations bring the total loss for the quarter ending July 31, 2010 to $12.1 million ($0.34 loss per share fully diluted) versus $5.4 million ($0.15 loss per share fully diluted) for the same quarter 2009.

September 26, 2010 - Winalta Inc. (TSX-V - "WTA.A") announces that the Court of Queen's Bench of Alberta, Judicial Centre of Edmonton (the "Court") has granted an extension, until October 31, 2010, of the initial Order granted on April 26, 2010 pursuant to which Winalta was granted creditor protection under the Companies Creditors Arrangement Act (Canada) (the "CCAA"). The extension was supported by Deloitte & Touche, Inc., the Court-appointed Monitor of Winalta's CCAA process and was not objected to by counsel to Winalta's secured creditor, HSBC Bank of Canada.

September 21, 2010 - Winalta Inc. (TSX-V - "WTA.A") announces that it, together with certain of its subsidiaries, Winalta Carlton Homes Inc., Winalta Homes Inc., Winalta Oilfield Rentals Inc., Winalta Construction Inc., Winalta Carriers Inc., Baywood Property Management Inc. and 916830 Alberta Ltd. (collectively "Winalta") have entered into a Third Extended and Amended Forbearance Agreement (the "Amended Forbearance Agreement") with HSBC Bank Canada, Winalta's secured creditor, to extend the period by which it would forbear from enforcing its claim for repayment of indebtedness owed to HSBC by Winalta until October 31, 2010.  As part of the Amended Forbearance Agreement, Winalta's major shareholder, Kos Corp. Investments Inc., a company owned and controlled by Artie Kos, Winalta's President and Chief Executive Officer and a director, has agreed to provide HSBC with a limited secured guarantee of Winalta's obligations owing to HSBC.

September 7, 2010 - Winalta Inc. (TSX-V - "WTA.A") announces that the Court of Queen's Bench of Alberta, Judicial Centre of Edmonton (the "Court") has granted an extension, until September 24, 2010, of the initial Order granted on April 26, 2010 pursuant to which Winalta was granted creditor protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA"). The extension was supported by Deloitte & Touche, Inc., the Court-appointed Monitor of Winalta's CCAA process and was not objected to by counsel to Winalta's secured creditor, HSBC Bank of Canada.

September 1, 2010 - Winalta Inc. (TSX-V - "WTA.A") announces that the Court of Queen's Bench of Alberta, Judicial Centre of Edmonton (the "Court") has granted an extension, until September 7, 2010, of the initial Order granted on April 26, 2010 pursuant to which Winalta was granted creditor protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA"). The extension was supported by Deloitte & Touche, Inc., the Court-appointed Monitor of Winalta's CCAA process and was not objected to by counsel to Winalta's secured creditor, HSBC Bank of Canada.

July 3, 2010 - Winalta Inc. (TSX-V - "WTA.A") announces yesterday that the Court of Queen's Bench of Alberta, Judicial Centre of Edmonton (the "Court") has granted an extension, until August 6, 2010, of the initial Order granted on April 26, 2010 pursuant to which Winalta was granted creditor protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA"). The extension was supported by Deloitte & Touche, Inc., the Court-appointed Monitor of Winalta's CCAA process and was not objected to by counsel to Winalta's secured creditor, HSBC Bank of Canada.

June 29, 2010 - Winalta Inc. (TSX-V - "WTA-A") today announced financial results for its fiscal 2010 second quarter ended April 30, 2010. The Company reports an EBITDA for the three months ended April 30, 2010 was positive $0.1 million relative to negative $0.3 million in 2009. The Company incurred a net loss of $5.2 million on revenues of $6.0 million ($0.14 loss per share fully diluted) for the three months ended April 2010 compared to net loss of $5.2 million on revenues of $4.9 million ($0.15 loss per share fully diluted) in 2009.

May 21, 2010 - Winalta Inc. (TSX-V - "WTA.A") announces today that the Court of Queen’s Bench of Alberta, Judicial Centre of Edmonton (the “Court”) has granted an extension until July 2, 2010 of the initial Order granted on April 26, 2010 pursuant to which Winalta was granted creditor protection under the Companies’ Creditors Arrangement Act (Canada) (the “CCAA”). The extension was supported by Deloitte & Touche, Inc., the Court-appointed Monitor of Winalta's CCAA process and was not objected to by counsel to Winalta's secured creditor, HSBC Bank of Canada.

April 26, 2010 - Winalta Inc. (TSX-V - "WTA.A") announces today that it and certain of its subsidiaries, Winalta Homes Inc., Winalta Oilfield Rentals Inc., 916830 Alberta Ltd., Winalta Holdings Inc., Winalta Construction Inc., Baywood Property Management Inc., Winalta Carlton Homes Inc., and Winalta Carriers Inc. (collectively "Winalta") have obtained creditor protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA") pursuant to an Order granted on April 26, 2010 by the Court of Queen's Bench of Alberta, Judicial Centre of Edmonton (the "Court").

March 31, 2010 - Winalta Inc. (TSX-V - "WTA.A") announces that Winalta, together with its subsidiary companies (Winalta Homes Inc., Winalta Carriers Inc., Winalta Oilfield Rentals Inc., Winalta Carlton Homes Inc., Winalta Industrial Inc., Winalta Holdings Inc., Winalta Construction Inc., Baywood Property Management Inc. and 916830 Alberta Inc.) have received demands for payment (the "Demands") and Notices of Intention to Enforce Security (the "Notices") from the Company's principal lender, HSBC Bank of Canada ("HSBC"). Pursuant to the Demands, HSBC has demanded payment of approximately $46 million of indebtedness owing by Winalta and its subsidiaries to HSBC under various loans and guarantees.

February 26, 2010 – Winalta Inc. (TSX-V - "WTA.A") For the twelve months ended October 31, 2009, the Company realized gross profit of $7.5 million on revenue of $43.4 million compared to $32.5 million gross profit on $92.7 million in 2008. The decrease in consolidated gross profit reflects strong competitive product pricing, higher direct selling and setup costs, increased costs related to reduced manufacturing operations resulting from lower production volumes, and low profit margins on paving and aggregate operations during 2009. The Company reports net losses of $27.0 Million, or $0.76 loss per share for the year ended October 31, 2009, down from net earnings of $5.3 Million, or $0.15 earnings per share for the year ended October 31, 2008.

February 12, 2010 - Winalta Inc. (TSX-V - "WTA.A") announces that ithas received a non-binding proposal for the acquisition of Winalta'soilfield rentals business and its carrier division for a purchase priceof $24 million to be satisfied through a combination of cash, shares and the assumption of approximately $17 millionof indebtedness related to the oilfield rentals business and carrierdivision (the "Proposal"). As the Proposal has been made by a purchaserin conjunction with certain non-arm's length parties of Winalta, theWinalta Board of Directors has appointed a Special Committee ofindependent directors to consider the Proposal.

November 16, 2009 - Winalta Inc. (TSX-V - "WTA.A") announces that it has signed an amending and extension agreement with its primary lender to extend the term of its various outstanding loans, including its primary operating facility, to January 1, 2010.Winalta is in continued discussions with its primary lender to reach a longer term agreement for its existing and future lending needs.

September 29, 2009 - Winalta Inc. (TSX-V - "WTA.A") announced financial results for its fiscal 2009 third quarter ended July 31, 2009. The Company reports a net loss of $5.4 million on revenues of $13.3 million ($0.15 loss per share fully diluted) for the three months ended July 2009 compared to net earnings of $2.1 million on revenues of $26.8 million ($0.06 per share fully diluted) in 2008. EBITDA for the three months ended July 31, 2009 was negative $2.3 million relative to $6.0 million in 2008.

September 25, 2009 - Winalta Inc. (TSX-V - "WTA.A") advises that its primary operating facility agreement expired August 31, 2009 and since that date, Winalta has been in continuing discussionswith its lender to establish a new operating facility agreement.

September 14, 2009 - Winalta Inc. (TSX-V - "WTA.A") announces that on August 29, 2009 it granted a total of 660,000 options to employees and insiders of the Company. 512,500 options were granted to mployees, 110,000 to Officers, and 37,500 to Directors.

June 30, 2009 - Winalta Inc. (TSX-V - "WTA.A") today announced financial results for its fiscal 2009 second quarter ended April 30, 2009. The Company reports a net loss of $5.2 million on revenues of $6.9 million ($0.15 loss per share fully diluted) for the three months ended April 2009 compared to net earnings of $2.3 million on revenues of $23.2 million ($0.07 per share fully diluted) in 2008. EBITDA for the three months ended April 30, 2009 was negative $1.5 million relative to $5.7 million in 2008.

May 1, 2009 - Winalta Inc. (TSX-V - "WTA.A") today announces that at its Annual General and Special Meeting held on April 29, 2009, the resolution to cancel and re-grantstock options granted to insiders, was approved by a vote of disinterested shareholders. In accordance with the resolution, Winalta has canceled 1,505,000 previously issued options granted to insider sand re-granted 752,500 stock options to such insiders at an exercise price of $0.50.

April 29, 2009 - Winalta Inc. (TSX-V - "WTA.A") & Artie T. Kos announced he is stepping back from the President and Chief Executive Officer position at Winalta Inc. and will take on the role of Chairman of the Board of Directors. Mel Benson, who is currently the Chairman of the Board will step down as Chairman but will remain on the Board of Directors as lead Director.

March 31, 2009 - Winalta Inc. (TSX-V - "WTA.A") today announced financial results for its fiscal 2009 first quarter ended January 31, 2009. The Company reports a net loss of $2.6 million on revenues of $10.9 million ($0.07 loss per share fully diluted) compared to net earnings of $0.8 million on revenue of $20.2 million ($0.02 per share fully diluted) in 2008. EBITDA for the three months ended January 31, 2009 was negative $0.5 million relative to $3.8 million in 2008.

March 23, 2009 - Winalta Inc. (TSX-V - "WTA.A") announced today that it has taken steps to position itself to further capitalize on opportunities in the northern regions of Canada. Winalta Inc. is pleased to announce both the appointment of Gene Ouellette as First Nations Business Development Manager and the signing of a dealership agreement with Northern Projects Logistics as a distributor of Winalta Homes in the Yukon, NWT and Nunavut.

March 03, 2009 - Winalta Inc. (TSX-V - "WTA.A") completes the previously announced acquisition of Envirocore’s construction assets, located in Fort St John, BC.

"We are very pleased to add the Envirocore assets to our existing oilfield construction business. This acquisition is a natural way for Winalta to geographically expand its growing construction business into the Fort St John area. It also facilitates our ability to participate in the growth and opportunities presented in northeastern BC." says Artie T Kos, President and CEO of Winalta inc.

February 26, 2009 - Winalta Inc. (TSX-V - "WTA.A") announced today the signing of an agreement to acquire the assets of Envirocore, a division of IROC Energy Services Partnership. Located in Fort St John, BC, Envirocore operates as a construction company primarily in lease and road construction for the oil and gas industry. The assets include all lease construction associated equipment and inventories currently operated by IROC’s Envirocore division. Winalta has entered into an agreement to retain certain key Envirocore employees and has offered employment contracts to all current Envirocore employees.

February 08, 2009 - Winalta Inc. (TSX-V - "WTA.A") is pleased to report its operating results for the year ended October 31, 2008. EBITDA increased to a record $19.7 Million on revenues of $101.5 Million for the year ended October 31, 2008 compared to EBITDA of $16.2 Million on revenues of $104.9 Million in 2007. These results reflect Winalta’s first year of diversified operations, with increased profitability and revenue growth in the Industrial division and increased profitability in the Homes division despite reduced sales.

December 4, 2008, Kos Corp. Investments Ltd. ("Kos") announces that it has acquired, through its wholly owned subsidiary Kos Win Inc., 1,500,000 class "A" common shares (the "Winalta Shares") of Winalta Inc. ("Winalta") or 4.20% of total outstanding, through the facilities of the TSX Venture Exchange . As a result of the transaction, Kos owns 17,070,813 Winalta Shares (47.85%).

October 7, 2008 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce the appointment of Ron Berg as Vice President Corporate Development, Industrial Division.

Mr. Berg has 32 years of experience in the oil and gas industry having worked for Precision Drilling Trust for the past 25 years, from Field Superintendent to, most recently, Senior Vice President.

September 29, 2008 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce its sixth consecutive profitable quarter under new management. The Company reports EBITDA of $6.4 million ($0.18 per share fully diluted) on revenue of $28.9 million for the three months ended July 31 compared to and EBITDA of $4.7 million ($0.15 per share fully diluted) on revenue of $24.3 million in 2007.

September 11, 2008 - Winalta Inc. (TSX-V - "WTA.A") announces that it will not proceed with its previously announced private placement of up to $10 million of units (the "Units") at a price of $2.35 per Unit (the "Private Placement").

August 21, 2008 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce that it has entered into an agreement with Dundee Securities Corporation ("Dundee") to complete a private placement on a "commercially reasonable best efforts" agency basis, of up to $10 million of units (the "Units") at a price of $2.35 per Unit (the "Private Placement"). The Private Placement will be conducted by a syndicate of agents led by Dundee and including Acumen Capital Finance Partners Limited.

June 26, 2008 - Winalta Inc. (TSX-V - "WTA.A") is pleased to announce its fifth consecutive profitable quarter under new management. The Company reports EBITDA of6.2 million ($0.17 per share fully diluted) on revenue of $26.3 millionfor the three months ended April 30 compared to and EBITDA of 2.2million (0.08 per share fully diluted) on revenue of $20.5 million in2007. Net earnings for the quarter were $2.3 million compared to$773,000 in 2007.

June 9, 2008 - Winalta Inc. (TSX-V - "WTA.A") announced today that it will consolidate its North Battleford,Saskatchewan manufacturing facility to its Acheson, Alberta facility,located near Edmonton.  Winalta will continue to produce its currentindustrial product line and expects increased efficiencies andprofitability with the use of a single manufacturing facility.

April 24, 2008 - Winalta Inc. (TSX-V - "WTA.A") advises that its Board of Directors has approved a grant of a total of 150,000 stock options to Officers and Directors in accordance with the terms of its Stock Option Plan.

April 1, 2008 - Winalta Inc. (TSX-V - "WTA.A") announced financial results for its fiscal 2008 first quarter ended January 31, 2008. The Company reports net earnings of $769,000 on revenue of $20.2 million ($0.02 per share fully diluted) compared to a net loss of $989,000 ($0.05 per share fully diluted) onrevenue of $16.8 million in 2007. 

April 1, 2008 - Winalta Inc. (TSX-V - "WTA.A") announced certain changes in senior management.

March 17, 2008 - Winalta Inc. (TSX-V - "WTA.A") announced today thatit has entered into a series of agreements to acquire serviced lots anddevelopable lands in strategic locations in Saskatchewan.

March 10, 2008 - Winalta Inc. (TSX-V - "WTA.A") today announced certain changes and proposed changes to its Board of Directors.

March 10, 2008 - Winalta Inc. (TSX-V - "WTA.A") advises that its Board of Directors has approved a grant of a total of 250,000 stock options to Artie T. Kos, Director, President and Chief Executive Officer of Winalta Inc.

March 10, 2008 - Winalta Inc. (TSX-V - "WTA.A") is pleased to report its operating results for the year ended October 31, 2007.

December 10, 2007 - Winalta Inc. (TSX-V - "WTA.A") Effective December 10th, 2007, Paul H Shelley is no longer employed by Winalta Inc. or as an officer of Kos Corp. Investments Ltd.

October 22, 2007 - Winalta Inc. (TSX-V - "WTA.A") announces that it has formed a strategic alliance with PolyLINK™, whereby Winalta will manufacture homes utilizingstructural insulated panels ("SIPs") supplied by PolyLINK™. The useof SIPs will effectively reduce construction times and increase the structural integrity of the homes as well as provide superior insulation properties.

October 22, 2007 - Winalta Inc. (TSX-V - "WTA.A") After two quarters under new leadership, Winalta's third quarterresults reflect the strengthening of the turnaround to profitability asincreasing cash flows from new initiatives continue to be realized.