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WLK.P Westlake Capital Ltd

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Share Name Share Symbol Market Type
Westlake Capital Ltd TSXV:WLK.P TSX Venture Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Westlake Capital Ltd. Announces Closing of Private Placement

23/10/2013 10:41pm

Marketwired Canada


Westlake Capital Ltd. ("Westlake" or the "Company") (TSX VENTURE:WLK.P) is
pleased to announce that, subject to the issuance of a Final Exchange Bulletin
by the TSX Venture Exchange (the "Exchange"), Westlake has completed the
previously announced private placement pursuant to which Westlake acquired
3,100,000 units of RockBridge Resources Ltd. ("RockBridge") at a price of $0.05
per unit. Each unit comprised one RockBridge common share ("RockBridge Common
Share") and one RockBridge warrant ("RockBridge Warrant") exercisable to acquire
one additional RockBridge common share for one year at $0.10 per common share.
The RockBridge Common Shares and RockBridge Warrants will be subject to a hold
period of 4 months from the date of issue.


The transaction constitutes Westlake's Qualifying Transaction pursuant to the
policies of the Exchange.


Olympia Trust Company, the transfer agent for Westlake, distributed the
RockBridge Common Shares and RockBridge Warrants to the Westlkade shareholders
of record as of September 9, 2013 on a pro-rata basis as a return of capital.
Each shareholder of Westlake will receive 0.704545 RockBridge Common Shares and
an equal number of RockBridge Warrants for every share of Westlake held as of
the record date. Of the RockBridge Common Shares and RockBridge Warrants
distributed, 1,731,771 RockBridge Common Shares and an equal number of
RockBridge Warrants have been deposited in escrow with Olympia Trust Company.
These escrowed RockBridge Common Shares and RockBridge Warrants replace the
Westlake shares held by the Westlake seed investors which were held in escrow
pursuant to the policies of the Exchange.


The common shares of Westlake will be delisted from the Exchange and Westlake
will complete a voluntary dissolution as soon as practicable.


Further details of the transaction, the return of capital and the subsequent
dissolution of Westlake can be found in the management information circular of
Westlake dated September 25, 2013 which is available at www.SEDAR.com.


Statements in this press release regarding the Company's business which are not
historical facts are "forward-looking statements" that involve risks and
uncertainties, such as terms and completion of the proposed transaction. Since
forward-looking statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties. Actual results in each
case could differ materially from those currently anticipated in such
statements. 


Completion of the transaction is subject to a number of conditions, including
but not limited to, Exchange acceptance. There can be no assurance that the
transaction will be completed as proposed or at all.


Investors are cautioned that, except as disclosed in the management information
circular prepared in connection with the transaction, any information released
or received with respect to the transaction may not be accurate or complete and
should not be relied upon. Trading in the securities of a capital pool company
should be considered highly speculative.


The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the contents of
this press release.


ON BEHALF OF THE BOARD

WESTLAKE CAPITAL LTD.

Steve Mathiesen, President and CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Westlake Capital Ltd.
Steve Mathiesen
President and CEO
(604) 687-1550

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