Mr. Greg Busby reports

WESCAN ENERGY PROVIDES UPDATE ON ANNUAL GENERAL AND SPECIAL MEETING

Wescan Energy Corp. is providing an update with respect to its annual general and special meeting of shareholders, scheduled for Sept. 28, 2023.

Leo Berezan, a director of the company (the nominating shareholder), in his capacity as a holder of approximately 20 per cent of the issued and outstanding common shares of Wescan, recently announced that he has reached a settlement with Wescan in respect of the nominating shareholder's nomination of four directors for election to the board of directors of Wescan at the meeting and has withdrawn the nomination notice previously delivered to Wescan in accordance with Wescan's advance notice bylaw on Aug. 8, 2023.

As part of the settlement, Wescan will nominate the following five individuals for election as directors of Wescan, as will be more particularly described in the meeting materials, including the notice of meeting, management information circular and instrument of proxy to be delivered to shareholders in the coming weeks:

• Greg Busby, Wescan's chief executive officer and incumbent director;
• Leo Berezan, incumbent director;
• Phil Burry, proposed independent director;
• Shubham Garg, proposed independent director;
• Sohaib Abbas, proposed independent director.

In connection with the settlement, both James (Jim) Pollock and Richard D. (Rick) Orman, current directors of the company, have agreed that they will not stand for re-election. The company thanks them for their dedication and contributions to the company during their respective tenures.

Other terms

The nominating shareholder has agreed to immediately and irrevocably withdraw the notice.

Advisers

Norton Rose Fulbright Canada LLP is acting as counsel to the nominating shareholder. EnerNEXT Counsel is acting as counsel to Wescan.

A copy of this news release may be obtained on Wescan's SEDAR profile.

We seek Safe Harbor.