Winalta Announces Cancellation and Re-Grant of Options and Director Update
Winalta Inc. today announces that at its Annual General and Special Meeting held on April 29, 2009, the resolution to cancel and re-grant stock 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 insiders and re-granted 752,500 stock options to such insiders at an exercise price of $0.50.
In addition, Winalta has also canceled 928,750 options previously issued to employees of Winalta and re-granted 464,375 options, also having an exercise price of $0.50. In accordance with the company's Stock Option Plan, each of the re-granted options has a term of 5 years and shall vest as to 25% each year.
Winalta also announces that Terry Bradshaw has resigned from the Board of Directors as of April 29, 2009. Winalta's Board and Management would like to thank Terry for his service over the past year.
Winalta Inc. (the "Company") operates with three distinct divisions. The Homes division sells CSA approved manufactured and modular homes and custom site-built homes and develops land and builds communities. The Industrial division operates a portable accommodation rental business and a construction services operation which provides earth moving and excavation related services, gravel and crushed aggregate sales and delivery, asphalt paving and concrete finishing. The Manufacturing division produces manufactured and modular homes and mobile industrial accommodations from facilities in Acheson, Alberta.
Winalta Inc. shares trade on the TSX Venture Exchange under the symbol "WTA.A ".
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information
Business contact:
Ron Berg, President & CEO, Winalta Inc.
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Tel: (780) 960-6900,
Fax: (780) 962-9523
Austin Fraser, VP Corporate Development and Investor Relations
Tel: (403) 475-4698
