Westbridge Renewable Provides Update on Normal Course Issuer Bid

Rhea-AI Summary

Westbridge Renewable Energy Corporation (WEGYF) has received approval from the TSX Venture Exchange to commence a normal course issuer bid (NCIB) program. The company announced revised dates for the NCIB, which will now run from June 11, 2025 to June 10, 2026, instead of the previously announced period of June 9, 2025 to June 8, 2026. The NCIB will end earlier if the maximum number of common shares targeted for repurchase is reached before the termination date.

Positive

• Company received TSXV approval for share buyback program
• Implementation of NCIB demonstrates company's confidence in its value and commitment to shareholders

Negative

• None.

TORONTO, June 6, 2025 /PRNewswire/ - Westbridge Renewable Energy Corporation (TSXV: WEB), (OTCQX: WEGYF), (FRA: PUQ) ("Westbridge", "Westbridge Renewable" or the "Company") announced today that the TSX Venture Exchange (the "TSXV") has approved the commencement by Westbridge Renewable of a normal course issuer bid program (the "NCIB").

The Company wishes to clarify that the NCIB will commence on June 11, 2025 and will terminate on June 10, 2026 or on an earlier date if the maximum number of common shares sought in the NCIB has been repurchased, instead of June 9, 2025 and June 8, 2026, respectively, as previously announced.

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 Italy. 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 projects. As one of the very few listed pure-play Canadian solar development companies, Westbridge provides its investors with 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.

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, purchases of the Shares made under the NCIB and the timing thereof, the duration of the NCIB, the management's business strategy, 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, including the duration of the NCIB, the purchases of the Shares if at all, as there is no assurance the NCIB will be completed for the full term or at all. 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 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

When does Westbridge Renewable's (WEGYF) share buyback program start?

Westbridge Renewable's normal course issuer bid (NCIB) program starts on June 11, 2025 and runs until June 10, 2026, unless the maximum share repurchase is reached earlier.

What exchange approved Westbridge Renewable's (WEGYF) share buyback program?

The TSX Venture Exchange (TSXV) approved Westbridge Renewable's normal course issuer bid program.

What are the revised dates for Westbridge Renewable's (WEGYF) NCIB program?

The NCIB program dates were revised from June 9, 2025 - June 8, 2026 to June 11, 2025 - June 10, 2026.

What is a normal course issuer bid (NCIB)?

A normal course issuer bid (NCIB) is a Canadian term for a share buyback program where a company repurchases its own shares from the open market.