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Diversified (DVFXF) Announces 2010 Financial Results

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$UPERMAN   Friday, 04/08/11 12:34:14 AM
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Diversified (DVFXF) Announces 2010 Financial Results

1/19/2011 2:00 PM - FSC

Red Deer, AB January 19, 2011

FSC / Press Release

Diversified Announces 2010 Financial Results

Red Deer, Alberta CANADA, January 19, 2011 /FSC/ - Diversified Industries Ltd. (TSX - VX: DVS), is reporting consolidated losses of $2.34 million on revenues of $23.17 million for the year ended August 31, 2010. This compares to a $1.7 million loss on revenues of $16.8 million for the year ended August 31, 2009.

The Company has now filed its Financial Statements for the year ended August 31, 2010. Due to complexities of the audit from changes in activities through the year and the filed creditor proposal while the audit was proceeding, several issues extended the time to complete the audit for appropriate disclosure in the Financial Statements and MD&A.

The company is proceeding with filing the required forms for reinstatement since the Cease Trade Order from January 6, 2011.

For more information visit www.dvsind.com or www.cfrchemicals.com


On behalf of the Board of Directors:

"Larry Malazdrewicz"
Larry Malazdrewicz, President/CEO (Interim)


For investor information, please contact:

Larry Malazdrewicz, President/CEO (Interim)
Tomas Marshall, CFO
Phone: (403) 346-2149
e-mail: larry@cgcommit.com
e-mail : tmarshall@cfrchemicals.com


Parkland Mall, Suite 915
4747 - 67th Street
Red Deer, AB T4N 6H3


Statements made in this news release that relate to future plans, expectations, events or performances are forward-looking statements. Such statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Source: Diversified Industries Ltd. (DVS - TSX-V) http:www.dvsind.com
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