CALGARY, ALBERTA--(Marketwire - Dec. 14, 2011) - DIVESTCO INC. (TSX VENTURE:DVT) ("Divestco" or the "Corporation"), is pleased to announce that it has requested approval from the TSX Venture Exchange ("TSXV") for a non-brokered private placement (the "Private Placement") of up to 6,666,667 Class A shares ("Shares") for gross proceeds of up to $1,000,000.05 at a price of $0.15 per Share. The Shares will be offered to subscribers and will be issued pursuant to statutory exemptions from the prospectus requirements under applicable securities laws. The Private Placement is subject to certain conditions, including acceptance of subscriptions by Divestco and is subject to all necessary regulatory approvals. Resale restrictions will apply to the Shares in accordance with applicable laws. A minimum subscription amount of $100,000.20 has been set for each subscriber. The price per Share was based on the 20-day weighted average closing price of the Corporation's shares of $0.11 per Share plus a 36% premium.

The closing of the Private Placement is expected to occur on or before December 31, 2011, or on such other dates as the Corporation may determine and there may be multiple closings.

The Corporation intends to use the proceeds of the Private Placement for working capital purposes and capital expenditures.

The Corporation also announces that it has withdrawn a prior submission to the TSXV requesting approval for a non-brokered private placement of up to 33,333,334 Class A shares for gross proceeds of up to $5,000,000.10 at a price of $0.15 per Share. This withdrawal was done on the basis that the capital needs of Divestco would be satisfied with a smaller placement and the contemplated larger placement was never marketed.

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".

Statements in this document that may be considered forward-looking are based on management's current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated.

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