CALGARY, ALBERTA–(Marketwired – May 16, 2016) – West Mountain Environmental Corp. (the “Company“) (TSX VENTURE:WMT) announces that the Company has agreed to the terms of a non-binding term sheet (the “Term Sheet“) relating to a 1-year extension (the “Extension“) of the maturity date of its convertible 6.5% secured bond. The Company has until May 31, 2016 to complete and accept the necessary formal documentation to effect the Extension and further agreements pursuant to the Term Sheet.
About West Mountain
West Mountain is an established Canadian environmental solutions company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams. Through its subsidiaries it employs a unique indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil and industrial sludge converting much of it into reusable oil and synthetic natural gas that it uses to sustain the process. This methodology offers significant opportunity for greenhouse gas reduction over traditional hazardous waste destruction technologies. The Company’s management team maintains expertise in hazardous waste management and contaminated site remediation with experience spanning North America and 15 countries internationally.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements in respect of the completion of binding documentation that effect the timing of the obligation to repay amounts owing under the convertible 6.5% secured bond. There is no certainty that the Extension of the maturity date contemplated in the non-binding Term Sheet will be effected by final and binding documentation in the timeline set forth herein or at all. Although West Mountain believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because West Mountain can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risk that the formal documentation effecting the Extension is not completed or accepted. There is no certainty that the formal documentation effecting the Extension will be completed or accepted and that the date on which the amounts payable under the bond will be deferred. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and West Mountain undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.
Mr. Tim Mahoney
CEO and President
(561) 626-9311
[email protected]
www.westmountainenv.com
