Westbridge Completes Vertical Short Form Amalgamation

Rhea-AI Summary

Westbridge Renewable Energy (OTCQX: WEGYF) completed a vertical short form amalgamation with its wholly owned subsidiary effective March 10, 2026.

No securities were issued, share capital remains unchanged, all subsidiary shares were cancelled and its assets, liabilities and obligations were assumed by Westbridge. The company says the transaction simplifies structure, reduces administrative costs and will not materially affect operations or the TSX Venture Exchange listing.

TORONTO, March 10, 2026 /PRNewswire/ - Westbridge Renewable Energy Corporation (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) ("Westbridge", "Westbridge Renewable" or the "Company") is pleased to announce that it has completed a vertical short form amalgamation with its wholly owned subsidiary, Westbridge Renewable Energy Holding Corp. effective as of March 10, 2026.

The amalgamation of the Company and its subsidiary was undertaken to simplify the corporate structure of the Company and to reduce administrative costs.

No securities of the Company will be issued in connection with the amalgamation, and the Company's share capital will remain unchanged. All of the issued and outstanding shares of the subsidiary will be cancelled, and the assets, liabilities and obligations of the subsidiary will be assumed by Westbridge. The amalgamation will not have any significant effect on the business and operations of the Company, and the common shares of the Company will continue to be listed on the TSX Venture Exchange.

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 renewable energy 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 including, without limitation, management's business strategy, and management's assessment of future plans and operations. 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. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "potential" 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 the actual results to differ materially from those in forward-looking statements include risks and uncertainties relating to the prospectivity of the Company's interests and the Company's ability to obtain regulatory approval or at all. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

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SOURCE Westbridge Renewable Energy Corp.

FAQ

What did Westbridge (WEGYF) announce on March 10, 2026 about its corporate structure?

Westbridge completed a vertical short form amalgamation with its wholly owned subsidiary, effective March 10, 2026. According to the company, the amalgamation cancels the subsidiary shares, transfers assets and liabilities to Westbridge, and simplifies the corporate structure to reduce administrative costs.

Will Westbridge (WEGYF) issue new shares as part of the amalgamation?

No new securities will be issued in connection with the amalgamation. According to the company, the share capital will remain unchanged and all issued and outstanding subsidiary shares will be cancelled and absorbed by Westbridge.

How does the amalgamation affect Westbridge's listing on the TSX Venture Exchange?

The amalgamation will not affect the company's listing status on the TSX Venture Exchange. According to the company, the common shares will continue to be listed and there is no expected material change to trading or listing arrangements.

What operational impact will the March 10, 2026 amalgamation have on Westbridge (WEGYF)?

The company says the amalgamation will not have any significant effect on business operations. According to the company, daily operations, assets and liabilities are simply consolidated and the transaction is intended to reduce administrative complexity and costs.

Did the amalgamation change Westbridge's share capital or shareholder ownership?

No, the share capital and shareholder ownership remain unchanged after the amalgamation. According to the company, no securities were issued and existing common shares of Westbridge continue as before, with subsidiary shares cancelled.

Why did Westbridge (WEGYF) undertake the vertical short form amalgamation on March 10, 2026?

Westbridge undertook the amalgamation to simplify its corporate structure and reduce administrative costs. According to the company, consolidation of the subsidiary into Westbridge achieves administrative efficiency without issuing new shares or changing capital structure.