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File: WesCan - PR Announcing Extension (3)[4].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 Extends Closing of Acquisition of Oil and Gas Properties in Central Alberta

  For Immediate Release             February 23, 2015 
 
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
--->   

February 23, 2015 - Calgary, Alberta - WesCan Energy Corp. (TSXV:WCE) ("WesCan" or the "Company") wishes to announce t
--->hat it has entered an amending letter agreement that provides for an additional extension to its previously announced 
--->(November 18, 2014 and January 26, 2015) Agreement of Purchase and Sale (the "Agreement"), as amended, for the acquisi
--->tion of certain oil and gas assets in central Alberta (the "Acquisition"), producing approximately 100 BOE/d (65% oil 
--->and NGLs, 35% natural gas), for the amended aggregate purchase price of $1,936,500, before customary closing adjustmen
--->ts.

This second amending letter agreement provides the Company with a further extension to the previous outside closing da
--->te of February 20, 2015 to February 27, 2015. All other terms and conditions under the amended Agreement remain in eff
--->ect including the original effective date of September 1, 2014. The completion of the Acquisition is subject to a numb
--->er of conditions, including approval of the TSX Venture Exchange.

Please refer to the Company's news releases dated November 18, 2014 and January 26, 2015 available on SEDAR for furthe
--->r details of the Acquisition.

* 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.