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WMT

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Share Name Share Symbol Market Type
TSXV:WMT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Jereh Energy Services Corporation Approves Transaction With West Mountain

06/03/2014 1:28pm

Marketwired Canada


West Mountain Capital Corp.  (TSX VENTURE:WMT) (the "Company" or "West
Mountain") announces that the Board of Directors for Jereh Energy Services
Corporation ("Jereh") of Yantai, China have approved the US$7 million investment
in West Mountain and related transactions (collectively, the "Transaction") as
described in West Mountain's news releases of November 20, 2013 and January 31,
2014.


A news release was issued on March 1, 2014 announcing that a meeting of the
Board of Directors of Yantai Jereh Oilfield Services Group Co. Ltd. (the parent
company of Jereh Energy Services Corporation) was held on February 27, 2014
wherein its nine directors voted unanimously in favour of the approval of the
Transaction. Jereh has also announced that it has applied for the Chinese
overseas investment approval from the applicable governmental authorities. 


The Company also announces that it has now obtained the consent to the
completion of the Transaction by the holders of the majority of its outstanding
shares. 


Closing of the Transaction is expected to occur on or before April 15, 2014 once
the Chinese overseas investment approval is obtained by Jereh. 


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.


Forward-Looking Statements 

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. 


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
West Mountain Capital Corp.
Mr. Paul Antle
President and CEO
709 726 0336
pantle@phaseparation.com
http://www.phaseparation.com

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