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Press release from Marketwire

Newalta Closes $77 Million Equity Financing

Friday, October 26, 2012

Newalta Closes $77 Million Equity Financing08:48 EDT Friday, October 26, 2012CALGARY, ALBERTA--(Marketwire - Oct. 26, 2012) -NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESNewalta Corporation ("Newalta") (TSX:NAL) announced today that it has completed its previously disclosed equity financing on a bought deal basis at a price of $14.00 per share. The underwriting syndicate exercised the full over-allotment option resulting in the issuance by Newalta of 5,500,000 common shares for gross proceeds of $77 million (estimated net proceeds of $73.5 million). The underwriting syndicate was led by RBC Capital Markets.Newalta has expanded its organic growth plan and as such, the net proceeds of the offering will be used to fund the expanded plan and contribute to the funding of customer-driven capital projects. Proceeds of the offering will initially be used to reduce indebtedness and for general corporate purposes until fully invested.The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under applicable securities laws.Newalta is North America's leading provider of innovative, engineered environmental solutions that enable customers to reduce disposal, enhance recycling and recover valuable resources from industrial residues. We serve customers onsite directly at their operations and through a network of 85 locations in Canada and the U.S. Our proven processes, portfolio of more than 250 operating permits and excellent record of safety make us the first choice provider of sustainability enhancing services to oil, natural gas, petrochemical, refining, lead, manufacturing and mining markets. With a skilled team of more than 2,000 people, two decade track record of profitable expansion and commitment to commercializing new solutions, Newalta is positioned for sustained future growth and improvement. Newalta trades on the TSX as NAL. For more information, visit www.newalta.com.This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the net proceeds of the offering, including the anticipated funding of customer-driven capital projects and an expanded growth plan. Although Newalta believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Newalta can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.The intended use of the net proceeds of the offering by Newalta might change if the Board of Directors of Newalta determines that it would be in the best interests of Newalta to deploy the proceeds for some other purpose.The forward-looking statements contained in this press release are made as of the date hereof and Newalta undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.Attachment Available: http://cnrp.marketwire.com/cnrp_files/20121026-1026nal.pdfFOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Newalta CorporationAnne M. PlastererExecutive Director, Investor Relations(403) 806-7019www.newalta.com