WCT Wood Composite Technologies Inc.

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. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/June2011/22/c8516.html p John Greenwoodbr/ President and Chief Executive Officerbr/ Telephone: (780) 955-3525br/ Facsimile:  (780) 955-7075br/ Websites: a href="http://www.woodcomp.com/"www.woodcomp.com/a. /p

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