November 24, 2008 09:38 ET

West Mountain Capital Corp. to Sell Pharmaceutical Business Unit

CALGARY, ALBERTA--(Marketwire - Nov. 24, 2008) - West Mountain Capital Corp. (TSX VENTURE:WMT), (the "Corporation") announces that its wholly-owned subsidiaries have entered into an agreement to sell their Pharmaceutical Business Unit. The agreement involves the sale of certain assets associated with the Pharmaceutical Business Unit located in Ontario and Saskatchewan and includes processing equipment, customer lists, contracts and is subject to normal conditions to closing.

"We have worked very hard over the last number of years to penetrate the pharmaceutical industry while strategically positioning the company in the contaminated soil market which has rebounded significantly." said Paul Antle, President and CEO "While the pharmaceutical industry does provide opportunity for growth, the rate of growth is much slower than we had anticipated and so we have decided to focus our efforts elsewhere. The sale of the Pharmaceutical Business Unit will provide valuable treatment capacity for soil at our plant in Wolseley, SK, reduce our overhead and allow us to take full advantage of the contaminated soil market in the coming years."

Under the terms of the agreement WMT and its subsidiaries will agree not to compete for the disposal of pharmaceutical waste for a period of 2 years. The Corporation expects to receive approximately $850,000 cash as consideration for the transaction subject to a revenue guarantee adjustment for the business unit over the next 12 months.

The transaction is expected to close prior to December 31, 2008.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements in respect of the sale of the Pharmaceutical Business Unit. The forward-looking statements and information are based on certain key expectations and assumptions made by West Mountain, including expectations and assumptions concerning the plan to sell the Pharmaceutical Business Unit assets. Although West Mountain believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because West Mountain can give no assurance that they will prove to be correct.

Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the sale of the Pharmaceutical Business Unit in general, the uncertainty of estimates and projections relating to the value of the assets, Pharmaceutical Business Unit, the transaction, failure to realize the anticipated value of the assets, failure to assign contracts associated with the Pharmaceutical Business Unit, failure to obtain required regulatory and other approvals, and changes in legislation. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and West Mountain undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

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