CALGARY, ALBERTA (June 30, 2014)
West Mountain Capital Corp. ("the Company" or "WMT") (TSX VENTURE:WMT)
Pursuant to a resolution passed by shareholders June 11, 2014, the company has changed its name as follows. There is no consolidation of capital.
Effective at the opening on Wednesday, July 2, 2014, the common shares of West Mountain Environmental Corp. will commence trading on the TSX Venture Exchange and the common shares of West Mountain Capital Corp. will be delisted. The company is classified as a waste management and remediation services company.
Capitalization: unlimited shares with no par value of which 53,440,046 shares are issued and outstanding
Transfer agent: Olympia Trust Company
Trading symbol: WMT (unchanged)
About the West Mountain
WMT is an established Canadian environmental solutions company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams. It employs TPS Technology, 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. WMT’s management team maintains expertise in hazardous waste management, Brownfield remediation and pharmaceutical waste management with experience spanning North America and 15 countries internationally. The Company will operate in China through a wholly-owned foreign enterprise and has completed all the necessary documentation to incorporate under the name Shanghai Phase Separation Environmental Technology Co., Ltd. ("PS2").
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. More particularly and without limitation, this news release contains forward-looking statements with respect to potential revenues and earnings from projects located China, future deployments of the TPS technology, the Company’s capital expenditure plans for 2013 and 2014 and the completion of financings to fund the planned capital expenditure program. The purpose of the forward-looking statements and information is to provide readers with basic information regarding the potential size of the contaminated soil treatment market and the oily sludge waste recovery market in China and the potential participation by WMT in these markets and may not be appropriate for other purposes. The forward-looking statements and information are based on certain key expectations and assumptions made by WMT, including expectations and assumptions concerning the plan to be awarded contracts to treat such material and obtaining the financing necessary to carry out its planned capital expenditure program. Although WMT 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 WMT can give no assurance that they will prove to be correct. 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. These include, but are not limited to, the risks associated with the Company’s contracts for operations in China, the fabrication of TPS soil treatment units, the availability of financing, the treatment of hazardous industrial sludge in general, attempting to secure work, the uncertainty of estimates and projections relating to the value of the contract, health, safety and environmental risks, transportation costs, environmental risks, failure to realize the anticipated benefits of the contract, failure to obtain required regulatory and other approvals, and changes in legislation, including but not limited to environmental regulations, and risks associated with doing business in China. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). This forward-looking information represents the Company’s views as of the date of this news release and such information should not be relied upon as representing its views as of any date subsequent to the date of this document. The Company attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations. There can be no assurance that forward-looking information will prove to be accurate, as results and future events could differ materially from those expected or estimated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Except as required by law, the Company undertakes no obligation to publicly update or revise any 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 the responsibility for the adequacy or accuracy of this release.