TORONTO, Sept. 28, 2022 /PRNewswire/ - Westbridge Energy Corp. (TSXV: WEB) (OTCQB: WEGYF) (FRA: PUQ3) ("Westbridge" or the "Company") is pleased to announce it will be changing its name from "Westbridge Energy Corp." to "Westbridge Renewable Energy Corp." to better reflect the evolution and direction of the Company as well as its vision for the future.
It is anticipated that the TSX Venture Exchange (the "TSXV") will publish a bulletin confirming that the Company's common shares will commence trading on September 30, 2022 (the "Effective Date") under the new name of Westbridge Renewable Energy Corp. Westbridge's trading symbol of "WEB" on the TSXV will remain unchanged. On the Effective Date, the new CUSIP number of the Company's common shares will be 95716A102 and the new ISIN will be CA95716A1021.
There will be no consolidation of the Company's share capital in connection with the name change. As a result, shareholders will not be required to exchange their existing share certificates for new certificates bearing the Company's new name. The name change will not affect the Company's share structure or the rights of the Company's shareholders and no action will be required to be taken by shareholders with respect to the name change. Outstanding share and warrant certificates will not be affected by the name change and do not need to be exchanged.
Pursuant to the provisions of the Business Corporations Act (British Columbia) and the Articles of the Company, the change of name was approved by way of resolutions passed by the Board of Directors of the Company.
Stefano Romanin, Director, and Chief Executive Officer, commented, "In the context of today's global energy shift toward net-zero, we are excited by the contribution of solar, and the staggering rate at which it continues to grow. Our team is positioned well to leverage our expertise and bring new renewable energy projects to the forefront. As one of the leading solar PV developers, we felt it important to change our name at this stage of our evolution, as we help fulfill the demands of the new global energy economy."
Westbridge Renewable Energy Corp. develops best-in-class solar PV projects. The Company plans to deliver attractive, long-term returns by originating, executing, and developing an international portfolio of renewable assets for investors and utilities. Management has a strong track-record with 40+ projects developed worldwide, obtaining, and executing permits on time and within budget. As one of the very few listed pure-play Canadian solar development companies, Westbridge provides its investors with valuable access to greenfield solar projects. This means the Company can invest at the earliest stage of solar energy development benefiting from the full value chain as well as the expected wider adoption of renewable energy going forward. Westbridge brings together regulators, corporate buyers, and landowners with the goal of delivering clean, sustainable electricity to end users.
On behalf of the Board of Directors,
Scott M. Kelly
Executive Chair & Director
Westbridge Renewable Energy Corp.
Neither the 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.
Certain information set forth in this document contains forward-looking information and statements including, without limitation, management's business strategy, management's assessment of future plans and operations. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "potential" or similar words suggesting future outcomes or statements regarding future performance and outlook. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company.
Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include general business, economic, competitive, regulatory, policy and social uncertainties, and availability of permits and financing upon terms acceptable to the Company or at all. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, market risks, operating history, competition, and the other risks identified under the headings "Risk Factors" in the Company's management's discussion and analysis dated March 29, 2022 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
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SOURCE Westbridge Energy Corporation