Westbridge Energy Corporation (WEB.V)has closed its transaction
to acquire 100% of the issued and outstanding shares in the capital
of Kayuco Universal Ltd.
Under the terms of the transaction, the Company acquired on the
closing date all of the issued and outstanding common shares of
Kayuco in exchange for 10 million common shares in the capital of
the Company at a deemed issue price of C$.20 per share and a cash
payment of US$3 million to Kayuco's selling shareholders in
proportion to their shareholding in Kayuco. A finder's fee in the
amount of 1,000,000 common shares of the Company was issued to
Westward Energy LLC for introducing the Acquisition to the
As a condition to the completion of the Acquisition, the Company
completed a non-brokered private placement financing of
subscription receipts for gross proceeds of C$4,000,000 at a price
of C$0.25 per subscription receipt.