Stockwatch

Wescan Energy Corp
Symbol	WCE
Shares Issued	36,347,958
Close 2023-08-23	C$ 0.06
Market Cap	C$ 2,180,877
Recent Sedar+ Documents

Wescan names five director nominees for Sept. 28 AGM

2023-08-23 17:13 ET - News Release

Subject: WCE News Release PDF Document File: Attachment WCE NR AGM 2023 - August 23, 2023 Final .pdf 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 Provides Update on Annual General and Special Meeting For Immediate Release August 23, 2023 THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES August 23, 2023 - Calgary, Alberta - WesCan Energy Corp. (TSXV: WCE) ("WesCan" or the "Company") is providing an update with respect to its annual general and special meeting of shareholders scheduled for September 28, 2023 (the "Meeting"). Leo Berezan, a director of the Company (the "Nominating Shareholder"), in his capacity as a holder of approximately 20% 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Shareholder's nomination of four (4) directors for election to the board of directors of WesCan at the Meeting, and has withdrawn the nomination notice previously delivered to WesCan in accordance with WesCan's advance notice bylaw on August 8, 2023. As part of the settlement, WesCan will nominate the following five (5) 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 CEO and incumbent director; Leo Berezan, incumbent director; Phil Burry, proposed independent director; Shubham Garg, proposed independent director; and 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. Advisors 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 press release may be obtained on WesCan's SEDAR profile at www.sedarplus.ca. FOR FURTHER INFORMATION, PLEASE CONTACT: Greg T. Busby, President & CEO John H. Cassels, CFO WESCAN ENERGY CORP. WESCAN ENERGY CORP. Tel: (403) 265-9464 Tel: (403) 265-9464 TSX Venture: WCE www.wescanenergycorp.com This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. 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. Disclaimer for Forward-Looking Information Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Forward-looking information in this press release includes, but is not limited to, statements regarding expectations of management regarding the drilling of the well and the timing of obtaining results therefrom. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that the drilling program discussed herein may not have the anticipated results. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as otherwise required by law.