WesCan Energy correction to private placement

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, Dec. 19, 2012 /CNW/ - WesCan Energy Corp. (TSX Venture Exchange: WCE) ("WesCan") announces as a correction to its press release of December 14, 2012, it has issued 1,426,000 common shares ("Common Shares") at a price of $0.20 per share for aggregate gross proceeds of $285,200, rather than the 1,076,000 Common Shares for gross proceeds of $215,200 as previously reported, in respect of a non-brokered private placement offering. No finder's fees were issued in connection with the private placement, which is subject to final regulatory approval.

All Common Shares issued under the private placement are subject to a hold period until April 14, 2013.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILTY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Reader Advisory

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects, including the use of proceeds from, the Offering, that constitute forward looking statements.

These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although the Corporation believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. The intended use of the proceeds of the Offering by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward looking statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligations to update publically 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.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SOURCE: WesCan Energy Corp.

Greg T. Busby, President & CEO
WESCAN ENERGY CORP.
Tel: [phone]
Fax: [phone]