Received by email:

File: WesCan - PR Announcing Extension (2) Trans. Jan.23 2015.doc


  
    
Suite 2500,  520  - 5th Ave. S.W.
Calgary, AB. T2P 3R7
T 403.265.9464
F 403.266.1510 
www.wescanenergycorp.com
                      
 NEWS RELEASE
 WesCan Energy Announces Extension to Closing of Acquisition of Oil and Gas Properties in Central Alberta

  For Immediate Release             January 26, 2015 
 
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
--->   

January 26, 2015 - Calgary, Alberta - WesCan Energy Corp. (TSXV:WCE) ("WesCan" or the "Company") wishes to announce th
--->at it has signed an amending letter dated January 23, 2015 to its previously announced Agreement of Purchase and Sale,
---> (the "Agreement") on November 18, 2014 to acquire oil and gas assets in central Alberta (the "Acquisition") producing
---> approximately 100 BOE/d (65% oil and NGLs, 35% natural gas) for an aggregate purchase price of $2,346,500, before cus
--->tomary closing adjustments.

The amending letter agreement has provided the Company with two material changes to the original Agreement primarily d
--->ue to the recent decline in oil prices. As result, the Vendor has agreed to reduce the "base price" of the assets bein
--->g acquired by $400,000 and a further extension to the previous outside closing date of January 23, 2015 to February 20
--->, 2015. Accordingly, this now reduces the cash portion of the purchase price from $2 million to $1.6 million, subject 
--->to industry standard post-closing adjustments, with an un-changed effective date of September 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 November 18, 2014 available on SEDAR for further details of the Acqui
--->sition.

* BOE Presentation: Barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conv
--->ersion ratio of six thousand cubic feet of natural gas to one barrel of crude oil is based on an energy equivalency co
--->nversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.


FOR FURTHER INFORMATION, PLEASE CONTACT:

Greg T. Busby, President & CEO                                            
WESCAN ENERGY CORP.  
 Tel: (403) 265-9464   


Reader Advisory:
Certain statements included in this news release constitute forward looking statements or forward looking information 
--->under applicable securities legislation. Such forward looking statements or information are provided for the purpose o
--->f providing information about management's current expectations and plans relating to the future. Readers are cautione
--->d that reliance on such information may not be appropriate for other purposes. Forward looking statements or informati
--->on typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "p
--->ropose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward looking sta
--->tements or information in this news release include, but are not limited to the proposed Acquisition. Forward looking 
--->statements or information are based on current expectations, estimates and projections that involve a number of risks 
--->and uncertainties which could cause actual results to differ materially from those anticipated by WesCan and described
---> in the forward looking statements or information.These risks and uncertainties include, but are not limited to, the f
--->ailure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., oper
--->ational risks in development, exploration and production; delays or changes in plans with respect to exploration or de
--->velopment projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and pro
--->jections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and 
--->exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to explo
--->ration or development projects or capital expenditures.

These risks and uncertainties which may cause actual results to differ materially from the forward looking statements 
--->or information include, among other things, changes to the terms of the Agreement, failure to complete the Acquisition
---> in a timely manner (or at all). The actual results, performance or achievement could differ materially from those exp
--->ressed in or implied by these forward looking statements. Readers are cautioned that the foregoing list is not exhaust
--->ive of all possible risks and uncertainties. Additional information on these and other factors that could affect WesCa
--->n's operations or financial results are included in reports on file with applicable securities regulatory authorities 
--->and may be accessed through the SEDAR website (www.sedar.com).The forward looking statements or information contained 
--->in this news release are made as of the date hereof and WesCan undertakes no obligation to update publicly or revise a
--->ny forward looking statements or information, whether as a result of new information, future events or otherwise unles
--->s required by applicable securities laws. The forward looking statements or information contained in this news release
---> are expressly qualified by this cautionary statement.

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 NEWS RELEASE.