CALGARY, ALBERTA--(Marketwire - Dec. 22, 2011) - DIVESTCO INC. (TSX VENTURE:DVT) ("Divestco" or the "Corporation"), is pleased to announce the closing of its previously announced private placement offering of up to 6,666,667 Class A shares (the "Shares") for gross proceeds of up to $1,000,000.05 at a price of $0.15 per Share (the "Offering"). As the Offering was fully subscribed, total proceeds of $1,000,000.05 were raised and 6,666,667 Shares were issued. The Shares are subject to a hold period under applicable Canadian securities laws and policies of the TSX Venture Exchange and the Offering is subject to the final approval of the TSX Venture Exchange. The entire Offering was subscribed for by three of Divestco's Directors.

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

Stephen Popadynetz, CEO, President, CFO and Director of Divestco, paid $450,000.00 to acquire 3,000,000 Shares under the Offering. Immediately prior to this acquisition, Mr. Popadynetz owned or controlled 5,548,483 of the outstanding Shares along with Warrants to acquire an additional 2,090,909 Shares or an aggregate of 12.3% of the outstanding Shares of Divestco on a partially diluted basis. Mr. Popadynetz now owns or controls 8,548,483 Shares along with Warrants to acquire an additional 2,090,909 Shares or an aggregate of 15.5% of the outstanding Shares of Divestco on a partially diluted basis. Awards that do not vest within 60 days have been excluded from the calculations. Mr. Popadynetz acquired beneficial ownership of, and control or direction over, the Shares pursuant to the Offering for investment purposes and advises that it is his current intention to continue to accumulate Shares of Divestco periodically.

Wade Brillon, Director of Divestco, paid $450,000.00 to acquire 3,000,000 Shares under the Offering. Immediately prior to this acquisition, Mr. Brillon owned or controlled 5,416,729of the outstanding Shares along with Warrants to acquire an additional 2,090,909 Shares or an aggregate of 12.1% of the outstanding Shares of Divestco on a partially diluted basis. Mr. Brillon now owns or controls 8,416,729 Shares along with Warrants to acquire an additional 2,090,909 Shares or an aggregate 15.3% of the outstanding Shares of Divestco on a partially diluted basis. Awards that do not vest within 60 days have been excluded from the calculations. Mr. Brillon acquired beneficial ownership of, and control or direction over, the Shares pursuant to the Offering for investment purposes and advises that it is his current intention to continue to accumulate Shares of Divestco periodically.

The Shares acquired pursuant to the offering were issued under the exemption from prospectus requirements set forth in section 2.5 of National Instrument 45-106.

This news release is issued pursuant to National Instrument 62-103 - The Early Warning System. Details can be obtained through the supplementary Early Warning Report filed on SEDAR pursuant to securities legislation, a copy of which can be obtained at [ www.sedar.com ] or by contacting Danny Chiarastella, Divestco's Vice President, Finance at (587) 952-8027.

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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