Westbridge Renewable Energy Announces Share Consolidation Effective Date

Rhea-AI Summary

Westbridge Renewable Energy (OTCQX: WEGYF) has announced the effective date of August 22, 2025, for its previously announced share consolidation. The consolidation will be executed on a 4:1 ratio, reducing the outstanding shares from 101,149,851 to approximately 25,287,462.

The company will maintain its name and trading symbol post-consolidation, with a new CUSIP (95716A201) and ISIN (CA95716A2011). Registered shareholders will receive letters of transmittal and must submit their pre-consolidation share certificates to Computershare Trust Company for exchange. The consolidation aims to attract institutional investors, enhance trading liquidity, and support long-term capital markets strategy.

Positive

• Share consolidation could attract broader institutional investor participation
• Strategic move to enhance trading liquidity
• Supports company's long-term capital markets strategy

Negative

• Shareholders will need to process additional paperwork for share certificate exchange
• Fractional shares will be rounded down, potentially resulting in minor share losses for some holders

CALGARY, AB, Aug. 19, 2025 /PRNewswire/ - Westbridge Renewable Energy Corp. (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) ("Westbridge", "Westbridge Renewable" or the "Company") a leading developer of utility-scale renewable energy and energy infrastructure, announces August 22, 2025 as the effective date of its previously announced consolidation of the Company's common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for every four (4) pre-consolidation Common Shares (the "Consolidation").

The name of the Company and trading symbol will remain the same after the Consolidation. The new CUSIP will be 95716A201 and the new ISIN will be CA95716A2011.  The Consolidation reduces the number of shares issued and outstanding from 101,149,851 Common Shares to approximately 25,287,462 Common Shares issued and outstanding, subject to rounding for fractional shares. 

Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders will be required to send their respective certificates representing their pre-Consolidation Common Shares along with a properly executed letter of transmittal to the Company's transfer agent, Computershare Trust Company of Canada ("Computershare"), in accordance with the instructions provided in the letter of transmittal. All shareholders who submit a duly completed letter of transmittal along with their respective pre-Consolidation Common Share certificate(s) to Computershare, will receive a post-Consolidation Common Share certificate or Direct Registration Advice representing their post-Consolidation Common Shares.

No fractional shares will be issued as a result of the Consolidation. Any fractional interest in Common Shares will be rounded down to the nearest whole number, in accordance with normal TSXV policies.  Proportionate adjustments will be made to the Company's outstanding stock options, restricted share units and performance share units following the effective date of the Consolidation. 

The Consolidation is being undertaken in order to position the Company for broader institutional investor participation, enhance trading liquidity, and support its long-term capital markets strategy.

"This share consolidation is a strategic step that supports Westbridge's broader growth trajectory and enhances our profile in public capital markets," said Stefano Romanin, CEO of Westbridge.

About Westbridge Renewable Energy

Westbridge originates, develops, operates and monetizes best-in-class, utility-scale solar PV projects, stand-alone battery energy storage projects and other clean energy-focused development. The Company has a portfolio of projects in four key jurisdictions: Canada, the U.S., the U.K. and Italy. Westbridge delivers attractive, long-term returns by originating and developing an international portfolio of renewable energy assets to support increasing demand for energy and grid reliability. Management brings a strong track-record with a cumulative 40+ development projects worldwide. As one of very few listed, pure-play international solar and BESS development companies, Westbridge provides investors with access to greenfield solar and energy storage projects at the earliest stage of development, allowing them to benefit from the full development value chain. Westbridge aims to deliver clean, sustainable electricity and energy storage solutions to support increasing electricity demand and grid reliability in the jurisdictions in which it operates.

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.

Forward-Looking Statements

Certain information set forth in this document contains forward-looking information and statements and the timing thereof. Forward-looking information also includes management's assessment of future plans and operations, that the Consolidation will impact the Company as anticipated; and that the treatment of fractional shares will align with management's current expectations. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future, including project milestone progress at Fontus, and should not be relied upon for any other purpose. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "potential", "will", "may", "could", "should", or similar words suggesting future outcomes or statements regarding future performance and outlook. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them, as actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: the Company's ability to complete licensing and interconnection processes; availability of capital and financing on acceptable terms or at all; risks relating to general business, economic, competitive, regulatory, policy and social uncertainties; changes in laws or market conditions; and the risks identified under the headings "Risk Factors" in the Company's annual financial statements and management's discussion and analysis, and other disclosure documents available on the Company's profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, except as required by law.

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SOURCE Westbridge Renewable Energy Corp.

FAQ

When will Westbridge Renewable Energy's (WEGYF) share consolidation take effect?

The share consolidation will take effect on August 22, 2025.

What is the ratio of Westbridge Renewable Energy's share consolidation?

The consolidation ratio is 4:1, meaning shareholders will receive one new share for every four shares currently held.

How many shares will Westbridge Renewable have outstanding after the consolidation?

After the consolidation, Westbridge will have approximately 25,287,462 shares outstanding, reduced from 101,149,851 shares.

What do Westbridge Renewable (WEGYF) shareholders need to do regarding the share consolidation?

Registered shareholders must submit their pre-consolidation share certificates along with a completed letter of transmittal to Computershare Trust Company to receive new post-consolidation shares.

Will Westbridge Renewable's trading symbol change after the consolidation?

No, the company's name and trading symbol will remain unchanged after the consolidation.