Divestco Announces First Closing of 2012 8% Secured Subordinated Debentures With Royalty Interest

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DIVESTCO INC. (TSX VENTURE:DVT) ("Divestco" or the "Corporation"), is pleased to
announce the first closing of its secured subordinated debenture offering in the
amount of $1,210,000 (the "Debentures") with a royalty interest (the "Royalty
Interest"). The Company's directors subscribed for $1,100,000. The Debentures
bear interest at 8.00% per annum, payable quarterly on the outstanding
principal. Principal payments will equal 50% of the net revenues generated by
the Seismic Data on or after July 1, 2012 (the "Principal Payments") with the
balance of the revenue to be retained by the Company. Net revenues will equal
90% of the gross revenues generated by the Seismic Data as the Corporation will
retain 10% of the gross revenues as a management fee. The Seismic Data is
comprised of the seismic surveys acquired by Corporation as of July 1, 2012.
Principal Payments may be postponed if the Corporation is in breach of any of
its senior debt covenants. The Corporation intends to use these initial proceeds
for working capital purposes. A subsequent closing will include conversion of
the Company's shareholder loans and a portion of its subordinated loan into
Debentures totaling $2.8 million, currently held by two directors. Additional
closings may be held at the option of the Corporation.


Upon full repayment of the principal amount of the Debentures and all accrued
interest, the Royalty Interest will become effective whereby 25% of the net
revenues generated by the Seismic Data, commencing after the last Principal
Payment has been made, will be paid as a royalty indefinitely (the "Royalty
Payments") with the balance of the revenue to be retained by the Company. Net
revenues will equal 90% of the gross revenues generated by the Seismic Data as
the Corporation will retain 10% of the gross revenues as a management fee.
Royalty Payments may be postponed if the Corporation is in breach of any of its
senior debt covenants. 


The principal amount of the Debentures and accrued interest, but not the Royalty
Interest, is secured against the Seismic Data by way of a registered security
interest pursuant to the Personal Property Security Act (Alberta) but is
subordinated to the Corporation's existing senior debt and will be subordinated
to any future senior debt.


About Divestco Inc.

Divestco is an exploration services company that provides a comprehensive and
integrated portfolio of data, software, and services to the oil and gas
industry. Through continued commitment to align and bundle products and services
to generate value for customers, Divestco is creating an unparalleled set of
integrated solutions and unique benefits for the marketplace. Divestco's breadth
of data, software and services offers customers the ability to access and
analyze the information required to make business decisions and to optimize
their success in the upstream oil and gas industry. Divestco is headquartered in
Calgary, Alberta, Canada and trades on the TSX Venture Exchange under the symbol
"DVT".


This press release contains forward-looking information related to the Company's
capital expenditures, projected growth, view and outlook towards future oil and
gas prices and market conditions, and demand for its products and services.
Statements that contain words such as "could', "should", "can", "anticipate",
"expect", "believe", "will", "may" and similar expressions and statements
relating to matters that are not historical facts constitute "forward-looking
information" within the meaning applicable by Canadian securities legislation.
Although management of the Company believes that the expectations reflected in
such forward-looking information are reasonable, there can be no assurance that
such expectations will prove to have been correct because, should one or more of
the risks materialize, or should the assumptions underlying forward-looking
statements or forward-looking information prove incorrect, actual results may
vary materially from those described in this press release as intended, planned,
anticipated, believed, estimated or expected. Readers should not place undue
reliance on forward-looking statements or forward-looking information. All of
the forward-looking statements and forward-looking information of the Company
contained in this press release are expressly qualified, in their entirety, by
this cautionary statement. Except where required by law, the Company does not
assume any obligation to update these forward-looking statements or
forward-looking information if conditions or opinions should change.
Divestco Inc. (TSXV:DVT)
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