Westbridge Renewable Announces Engagement of North American and European Investor Relations Advisors

Rhea-AI Summary

Westbridge Renewable Energy Corp. (TSXV: WEB, OTCQX: WEGYF, FRA: PUQ) has engaged Joshua Cohen of Westbury Capital Group and Paul Adams as investor relations advisors for a six-month initial term starting May 27, 2024. The services include corporate communications, shareholder engagement, news release drafting, and social media management. Each consultant will receive a monthly fee of $3,000 and 50,000 options with a $1.00 exercise price, valid until May 27, 2027. The agreements are subject to TSX Venture Exchange approval.

Positive

• Engagement of experienced investor relations advisors.
• Comprehensive IR services including corporate communications and social media management.
• Monthly fee of $3,000 per consultant reflects manageable advisory costs.
• Option grants align consultants' interests with company performance.

Negative

• Additional operational costs due to consultant fees and option grants.
• Dependence on TSX Venture Exchange approval for agreements.
• Short initial term of six months may limit long-term strategic planning.

CALGARY, AB, May 31, 2024 /PRNewswire/ - Westbridge Renewable Energy Corp. (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) ("Westbridge", "Westbridge Renewable" or the "Company") is pleased to announce that it has engaged Joshua Cohen ("Josh") of Westbury Capital Group LLC and Paul Adams ("Paul") (collectively the "Consultants") to provide the Company investor relations services (the "Services") for an initial period of six months commencing on May 27, 2024 (the "Initial Term") and can be renewed at the option of the Company, subject to the terms of the services agreements with each of the Consultants (the "Agreements"). The Agreements are subject to the approval of the TSX Venture Exchange ("TSXV").

Westbridge Renewable has engaged the Consultants to provide corporate communications, shareholder engagement and investor communication, news release and market material drafting and edits, social media development and maintenance, and ongoing tactical support. The Consultants are required to comply with all applicable securities laws and regulations in connection with the provision of the Services. The Services include Investor Relations Activities as such term is defined under the Policies of the TSXV.

Josh is Managing Partner at Westbury Capital Group LLC; a firm based in Austin, Texas that invests in and provides IR advisory services for public and private companies and Paul is an independent IR advisor based in London, UK. Both Consultants have been retained in a consulting capacity to provide general IR advisory services as outlined above and in the Agreements executed on May 27, 2024.

Scott Kelly, Director and Executive Chair of Westbridge Renewable, noted: "We are delighted to welcome Josh and Paul to our team and are very pleased with the progress we have made in Canada, expanding our project pipeline in the U.S. and Europe, and growing our team."

Cash and Options to be Paid for IR Services

Each of the Consultants will receive a monthly fee in the amount of $US 3,000 plus applicable taxes, paid monthly, and 50,000 options, granted on May 27, 2024 with an exercise price of $1.00 until May 27, 2027, for the Services during the Initial Term, unless terminated by the Company.

The fee to be paid by the Company to the Consultants is for the provision of the Services only. Both Consultants act at arm's length with the Company.

About Westbridge Renewable Energy

Westbridge Renewable Energy Corp. originates, develops, and monetizes best-in-class, utility-scale solar PV projects. The Company has a portfolio of projects in four key jurisdictions, Canada, the U.S., the U.K., and Europe. 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 track-record with 40+ projects developed worldwide, obtaining, and executing permits within budget. As one of the very few listed pure-play Canadian solar development companies, Westbridge provides its investors 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.

On behalf of the Board of Directors

For more information, please visit: www.westbridge.energy | Twitter | LinkedIn

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 release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about: heighten market awareness; broadening the Company's reach within the investment community; the purpose of the engagements of the Consultants; the payment by the Company for the Services and the timing thereof; the approval of the TSXV; and the intended content of the Services.

In connection with the forward-looking information contained in this news release, Westbridge Renewable and its subsidiaries have made numerous assumptions regarding, among other things: the Services will be provided as expected and will produce the intended results; and the Company will receive all required approvals, if any, in connection with the Agreements; and the timing and closing of the Transactions, if at all. While Westbridge Renewable considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause Westbridge Renewable's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include among others: required approvals for the Agreement, if any, may not be obtained; the Services performed may not be as expected or may not have the expected results; and the Agreement may be terminated early.

A more complete discussion of the risks and uncertainties facing Westbridge Renewable is disclosed in Westbridge Renewable's continuous disclosure filings with Canadian securities regulatory authorities at www.sedarplus.ca. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Westbridge Renewable disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

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SOURCE Westbridge Energy Corporation

FAQ

What are the details of Westbridge Renewable's new investor relations advisors?

Westbridge Renewable has engaged Joshua Cohen of Westbury Capital Group and Paul Adams for a six-month term starting May 27, 2024, to provide investor relations services.

How much is Westbridge Renewable paying its new IR advisors?

Each advisor will receive a monthly fee of $3,000 plus applicable taxes and 50,000 options with a $1.00 exercise price, valid until May 27, 2027.

What services will the new IR advisors provide to Westbridge Renewable?

The advisors will provide corporate communications, shareholder engagement, news release drafting, and social media development and maintenance.

When does the engagement period for Westbridge Renewable's IR advisors begin?

The initial engagement period begins on May 27, 2024, and lasts for six months.

What approvals are required for the IR advisor agreements of Westbridge Renewable?

The agreements are subject to the approval of the TSX Venture Exchange.