Wescorp Energy Converts $4,416,825 in Current Demand Debt into Equity and
Long-Term Debt
The first three transactions convert an aggregate of
The fourth transaction will result in
"Wescorp's management team believes these two events are significant in the Company's progression toward near-term positive cash flow and a strengthening of its balance sheet," commented
Wescorp Energy's Remediation Technology ---------------------------------------
H20maxx is a commercially proven, safe, effective and economical process for cleaning and separating oil and solids from produced water using patented technology. Test results on the H20maxx unit have been shown to reduce the oil content in produced water to less than 0.001% or 10 parts per million oil allowing oil and gas operators to reduce, reuse, and recycle water.
The HCXT solids remediation unit is a commercially proven, safe, effective and economical process for the extraction and cleaning of hydrocarbon-laden sediments and solids. The technology uses biodegradable chemicals to separate heavy oil from solids including drilling cuttings and fine sands and clays from oil sand production.
About Wescorp
Wescorp Energy Inc. (www.wescorpenergy.com) is an oil and gas operations solutions company focused on commercializing technologies that overcome tough operational challenges facing oil and gas operators today.
Wescorp shares currently trade on the NASD.OTC Bulletin Board under the symbol "WSCE".
Safe Harbor Statement ---------------------
Any statements contained herein that are not historical facts may be forward-looking statements, and involve risks and uncertainties. Potential factors could cause actual results to differ materially from those expressed or implied by such statements. Information on the potential factors that could affect the Company's actual results of operations is included in its filings with the Securities and Exchange Commission. These risks may be further discussed in periodic reports and registration statements to be filed by the Company from time to time with the Securities and Exchange Commission in the future.
For further information: Investor Relations contact: Mark Komonoski, Toll-Free: 1-877-255-8483, Office Line: (403) 255-8483, Mobile: (403) 470-8384, [email protected]; www.wescorpenergy.com; Renmark Financial Communications Inc.: Jason Roy: [email protected]; Barry Mire: [email protected], (514) 939-3989, (416) 644-2020
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