December 21, 2010 17:51 ET

Phase Separation Solutions Receives PCB Soil Treatment Contract

CALGARY, ALBERTA--(Marketwire - Dec. 21, 2010) - Phase Separation Solutions Inc. ("PS2"), a wholly owned subsidiary of West Mountain Capital Corp. (TSX VENTURE:WMT), is pleased to announce that it has secured another PCB soil treatment contract, its second project for the 2011 contract season.

PS2 has been subcontracted to treat up to 950 tonnes of PCB contaminated soil owned by a major utility provider in Western Canada. The project is scheduled to commence during the first week of January with shipments anticipated to arrive at the state-of-the-art Wolseley Facility throughout the month. Due to the high profile nature of the project and certain unique transport challenges, PS2, in cooperation with the site contractor, will be transporting the entire volume of soil in specially designed Supersacks. The use of these units will ensure some of the most secure transport of any PCB soil in Canada and creates a model for other projects anticipated in 2011 that can benefit from such secure transport. 

"We are extremely pleased to be adding to our winter inventory so late in the contracting year. We expect this to be the beginning of an active 2011, mostly due to the end of year decommissioning deadline associated with the Federal PCB Regulations" says Paul Antle, President and CEO.

In September 2008 the Federal Government promulgated new Federal PCB Regulations that mandates timelines for the removal and destruction of all PCB inventories, a large volume of which is PCB impacted soil. PS2's Saskatchewan-based thermal treatment facility has one of the most diverse operating permits in Canada and is doing its part to support these new Regulations.

About Phase Separation Solutions:

PS2 is an established Canadian environmental solutions company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams. It employs a unique indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil, industrial sludge, pharmaceutical waste and consumer waste streams converting much of it into reusable oil and synthetic natural gas that it uses to sustain the process. This methodology offers significant opportunity for greenhouse gas reduction over traditional hazardous waste destruction technologies. PS2's management team maintains expertise in hazardous waste management, Brownfield remediation and pharmaceutical waste management with experience spanning North America and 14 countries internationally.

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 contract to transport and treat 950 tonnes of PCB contaminated solids and West Mountain's outlook for additional business in 2011. 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 remove and treat such material. 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 removal and treatment of PCB contaminated materials in general, the uncertainty of estimates and projections relating to the value of the contract, health, safety and environmental risks, transportation costs, environmental risks, failure to realize the anticipated benefits of the contract, failure to obtain required regulatory and other approvals, and changes in legislation, including but not limited to environmental regulations. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.

Contact Information