Mr. Greg Busby reports

WESCAN ENERGY ANNOUNCES EXTENSION TO CLOSING OF ACQUISITION OF OIL AND GAS PROPERTIES IN CENTRAL ALBERTA

Wescan Energy Corp. signed an amending letter dated Jan. 23, 2015, to its previously announced agreement of purchase and sale, on Nov. 18, 2014, to acquire oil and gas assets in central Alberta, producing approximately 100 barrels of oil equivalent per day (65 per cent oil and natural gas liquids and 35 per cent natural gas), for an aggregate purchase price of $2,346,500, before customary closing adjustments.

The amending letter agreement has provided the company with two material changes to the original agreement primarily due to the recent decline in oil prices. As result, the vendor has agreed to reduce the base price of the assets being acquired by $400,000 and a further extension to the previous outside closing date of Jan. 23, 2015, to Feb. 20, 2015. Accordingly, this now reduces the cash portion of the purchase price from $2-million to $1.6-million, subject to industry standard postclosing adjustments, with an unchanged effective date of Sept. 1, 2014. The completion of the acquisition remains subject to a number of conditions, including approval of the TSX Venture Exchange.

Please refer to the company's news release dated Nov. 18, 2014, available on SEDAR for further details of the acquisition.

We seek Safe Harbor.