04:25:52 EDT Sun 19 May 2024
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Westbridge Renewable Energy Corp
Symbol WEB
Shares Issued 99,254,451
Close 2024-03-18 C$ 0.90
Market Cap C$ 89,329,006
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Westbridge Renewable receives TSX OK for share buyback

2024-03-18 10:12 ET - News Release

An anonymous director reports

WESTBRIDGE RENEWABLE LAUNCHES NORMAL COURSE ISSUER BID

The TSX Venture Exchange has approved the commencement by Westbridge Renewable Energy Corp. of a normal course issuer bid program.

As of the date hereof, the company has 99,254,451 common shares issued and outstanding. A maximum of 4,962,722 shares may be purchased by the company under the NCIB, representing approximately 5 per cent of the company's issued and outstanding shares. The NCIB commences on March 21, 2024, and will terminate on March 20, 2025, or on an earlier date in the event that the maximum number of shares sought in the NCIB has been repurchased. Purchases under the NCIB will be made through the facilities of the TSX-V at the prevailing market price at the time of purchase and in accordance with all applicable regulations of the TSX-V. Any shares purchased by Westbridge Renewable under the NCIB will be at the market price of the shares at the time of such purchases. The actual number of shares that may be purchased and the timing of any such purchases will be determined by the company in its sole discretion. The company reserves the right to terminate the NCIB at any time.

The board of directors of the company believes the purchase of its shares represents a good use of its financial resources and may protect and enhance shareholder value. The company intends to finance the purchases out of available cash.

Westbridge Renewable has appointed Canaccord Genuity Corp. to make purchases under the NCIB on its behalf.

About Westbridge Renewable Energy Corp.

Westbridge Renewable Energy originates, develops and monetizes best-in-class, utility-scale solar PV (photovoltaic) projects. The company has a portfolio of projects in three key jurisdictions: Canada, the United States and the United Kingdom. Westbridge plans to deliver attractive, long-term returns by originating, executing and developing an international portfolio of renewable assets for investors and utilities. Management has a strong record with more than 40 projects developed worldwide, obtaining and executing permits on time and within budget. As one of the very few listed pure play Canadian solar development companies, Westbridge provides its ESG-minded (environmental, social and governance) investors with valuable access to greenfield solar projects. This means the company can invest at the earliest stage of solar energy development benefiting from the full value chain as well as the expected wider adoption of renewable energy going forward. Westbridge brings together regulators, corporate buyers and landowners with the goal of delivering clean, sustainable electricity to end-users.

We seek Safe Harbor.

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