Leo Berezan Acquires Additional Common Shares as Part of Settlement of Lawsuit

Date/time : 2024-04-02 07:35 AM
Symbol :

WCE

Company : Wescan Energy Corp.
Price : 0.050
Market cap : 2,073,648
O/S : 41,472,958
Exchange :

TSXV

Industry :

Oil & Gas Exploration and Production

Full story

Leo Berezan Acquires Additional Common Shares as Part of Settlement of Lawsuit

(TheNewswire)

April 2, 2024 – TheNewswire - Calgary, Alberta – Leo Berezan (the “ Offeror ”), a current insider WesCan Energy Corp. (“ Wescan ”) (TSXV:WCE) by virtue of being a 10% shareholder through his holdings personally and through a company controlled by him, 401601 BC Ltd. (“ Holdco ”) as well as being a director and officer of WesCan, announces that effective March 28, 2024, t he Offeror has acquired an additional 2,313,000 common shares in the capital of Wescan (“ Common Shares ”) from an arm’s length shareholder and creditor of WesCan at a price of $0.04 per Common Share pursuant to the terms of an agreement as part of a negotiated settlement of outstanding debt and to settle a lawsuit with said creditor. Prior to completion of the issuance, the Offeror beneficially owned and controlled 7,632,800 Common Shares, constituting approximately 18.4% of the outstanding 41,472,957 Common Shares issued and outstanding on both an undiluted and diluted basis. Following the acquisition described above, the Offeror holds a total of 9,945,800 Common Shares, representing approximately 23.98% of the issued and outstanding 41,472,957 Common Shares on both an undiluted and diluted basis.

Mr. Berezan has acquired the Common Shares for investment purposes and from time to time, Mr. Berezan may acquire additional securities of Wescan, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position.

An early warning report is being filed concurrently with this news release under Wescan’s SEDAR profile at www.sedar.com and a copy of the report may be obtained from SEDAR or by contacting Mr. Berezan at the address below.

For more information contact:

Leo Berezan
Suite 210, 8399 200 Street
Langley, BC V2Y 3C2

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