VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 12/02/14 — Westbridge Energy Corporation (TSX VENTURE: WEB)(OTC PINK: WEGYF)(FRANKFURT: PUQ1) (“Westbridge” or the “Company”) reports Mr. Darren Collins has been appointed President and CEO of the Company, effective immediately. Having served as Vice President of Business Development of Westbridge for the past 12 months, Mr. Collins brings the transactional background required for the Company to realize the underlying value of its investments in the US and Namibia and refocus the Company on its projects with the greatest scalability. Mr. Collins previously worked with a number of resource focused advisory firms and corporate issuers in the US, Canada and the United Kingdom and will assume responsibility for the strategic direction, administration and partner relationships of the Company going forward. He holds a degree in finance from Dalhousie University.
The board would like to thank Mr. Tosan Omatsola for his contribution to Westbridge and wishes him success in his future endeavors. Mr. Omatsola will remain an advisor to the Company.
Compensation
In the interest of shareholders and to best position the Company for future growth opportunities, the management team, board and advisors of the Company have agreed to forgo accrued compensation totaling $359,450 as at September 30, 2014. This forgoing of accrued payables positions the Company with an attractive share structure, no debt and cash flow to sustain operations.
Commentary
Mr. Mark Frewin, Chairman of Westbridge, comments: “I would like to thank Mr. Omatsola for his commitment and valuable contribution during his time at Westbridge and am pleased that he has agreed to remain an advisor to the Company. I would also like to congratulate Mr. Collins on his appointment as President and CEO.”
Mr. Darren Collins, President and CEO of Westbridge, comments: “I would like to thank the board for the opportunity lead Westbridge as President and CEO and look forward to refocusing our activities on projects with the greatest return potential.”
For additional information readers are invited to review additional corporate and property information available at Westbridge–s website at:
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.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward looking information” within the meaning of the British Columbia Securities Act, the Alberta Securities Act and the Ontario Securities Act. Generally, the words “expect”, “intend”, “estimate”, “will” and similar expressions identify forward-looking information. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward looking information. Statements in this press release regarding Westbridge–s business or proposed business, which are not historical facts, are forward-looking information that involve risks and uncertainties, such as estimates and statements that describe Westbridge–s future plans, objectives or goals, including words to the effect that Westbridge or management expects a stated condition or result to occur. Since forward-looking statements address 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. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. All of the Company–s Canadian public disclosure filings may be accessed via and readers are urged to review these materials, including the technical reports filed with respect to the Company–s oil and gas properties. The foregoing commentary is based on the beliefs, expectations and opinions of management on the date the statements are made. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Contacts:
Westbridge Energy Corporation
Darren Collins
President and CEO
+1 604 638 9378