West Mountain executes binding definitive agreements with Jereh Energy
Calgary, Alberta – February 10, 2014 – West Mountain Capital Corp. (TSX VENTURE: WMT) (the “Company” or “West Mountain”) announces that it has executed binding definitive agreements with Jereh Energy Services Corporation (“Jereh”) of Yantai, China providing for a US$7 million investment in West Mountain by Jereh as described in its news releases of November 20, 2013 and January 31, 2013.
Closing of the transactions is expected to occur on or before April 15, 2014. In addition to conditions customary for transactions of this nature, the completion of the transactions is conditional upon the following: (a) the approval of the definitive agreements by the respective Boards of Directors of the Company and Jereh; and (b) the Company receiving all necessary consents and approvals, including the consent of the transaction by holders of the majority of the outstanding shares of the Company and final acceptance of the TSX Venture Exchange.
About West Mountain
West Mountain is an established Canadian environmental solutions company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams. It employs a unique indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil, industrial sludge, pharmaceutical waste and consumer waste streams converting much of it into reusable oil and synthetic natural gas that it uses to sustain the process. This methodology offers significant opportunity for greenhouse gas reduction over traditional hazardous waste destruction technologies. The Company’s management team maintains expertise in hazardous waste management, Brownfield remediation and pharmaceutical waste management with experience spanning North America and 15 countries internationally.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. In particular, this news release contains forward-looking information regarding the transaction with Jereh. The forward-looking statements and information are based on certain key expectations and assumptions made by West Mountain, including expectations and assumptions concerning the completion of the transactions described in this news release. Although West Mountain believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because West Mountain can give no assurance that they will prove to be correct. There is no assurance that the transactions described in this news release will be completed on the terms set out in this news release or at all.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors which could materially affect such forward-looking information include the failure to satisfy the closing conditions described in this news release and other factors that are described in the risk factors in the Company’s most recent annual management’s discussion and analysis that is available on SEDAR at www.sedar.com. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and West Mountain 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.
For Inquires Contact:
West Mountain Capital Corp.
Mr. Paul Antle, President and CEO
709 726 0336
To download the original press release, click here.