West Mountain Environmental Corp.

West Mountain Environmental Corp.

May 26, 2015 16:41 ET

West Mountain Environmental Corp. Announces Contract With Chinese Environmental Contracting Leader BCEER and Oilfield Expansion

CALGARY, ALBERTA--(Marketwired - May 26, 2015) - West Mountain Environmental Corp. (the "Company" or "West Mountain") (TSX VENTURE:WMT) is pleased to announce that its wholly owned subsidiary Shanghai Phase Separation Environmental Technology Company ("Shanghai Phase") has signed a contract with Chinese construction industry leader, BCEG Environmental Remediation Co. Ltd. ("BCEG") for Phase I of a major impacted soil remediation project in Ningbo, China.

Shanghai Phase is contracted to treat of 7,500 tonnes of soil containing polycyclic aromatic hydrocarbons on a contaminated parcel of land in Ningbo being remediated for return to residential and commercial use. Shanghai Phase will mobilize one of its new, larger capacity TPS-2 3EC models from the Hangzhou Phase II Project to the Ningbo site to meet the timeline of the project. Shanghai Phase plans to commence Phase I operations at Ningbo within 75 days of contract execution and be completed all soil treatment within 85 days of operation. This represents the first commercial project-to-project transition in China for Shanghai Phase highlighting the growing reputation the Company has established for success on challenging and time critical assignments.

"Over the last few years the reputation of our Company has grown exponentially," said Paul Antle, President and CEO. "Our expertise and technology are now actively being sought out by major Chinese contractors. We are in an enviable position and looking at bidding numerous projects in 2015."

This project also represents the first time the Company is working with BCEG, being a member of one of the largest fully integrated environmental services companies in China. BCEG is a wholly owned subsidiary of Beijing Construction and Engineering Group Co., Ltd., a major global infrastructure construction firm with annual sales of USD$5.5 billion. "We are extremely pleased to be working with a recognized leader like BCEG and look forward to greater cooperation in the months and years ahead," said Antle.

The Company is also pleased to report great progress by Jereh Energy Services, its Chinese partner and shareholder, in its continued deployment of the Company's TPS technology into the Chinese oilfield waste management market. In March 2015, Jereh showcased the TPS technology at the prestigious China International Petroleum and Petrochemical Exhibition and Conference in Beijing to a very receptive industry audience, at a time when regulations for oilfield waste disposal in China are rapidly tightening. This public announcement follows Jereh's successful deployment of TPS units to oilfield projects in the Daqing and Sichuan oilfields within the last 6 months.

"We continue to expand market coverage with TPS technology in China and Jereh's success with the deployment of TPS technology in the Chinese oilfield market is another significant step forward," said Antle. "With 30% of all TPS oilfield profits generated by Jereh returning to Shanghai Phase, Jereh's successful deployment of the TPS technology is expected to become significant as we continue to grow in 2015."

About West Mountain

West Mountain is an established Canadian environmental solutions company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams. Through its subsidiaries it employs a unique indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil and industrial sludge 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. The Company's management team maintains expertise in hazardous waste management and contaminated site remediation with experience spanning North America and 15 countries internationally.

About BCEG

BCEG Environmental Remediation Co. Ltd. ("BCEG") was the first established full service environmental provider in China. BCEG supplies fully integrated services including site investigation, risk assessment, technology selection, program development, engineering design, project implementation, completion and acceptance, business operations (planning and development), and post-project assessment. Specializing in air, water and soil remediation it has been a leader in the transfer of advanced international environmental technologies to China completing some of the largest remediation projects yet undertaken. It has three remediation engineering and technology centres established in Beijing, Nanjing and Wuhan. It is a wholly owned subsidiary of state-owned enterprise Beijing Construction and Engineering Group Co., Ltd., which is China's leading large-scale construction company listed as the 55th largest construction company in the world.

About Jereh Energy Services

Jereh Energy Services Corporation is wholly owned by Yantai Jereh Group, a public company listed on the Shenzhen Stock Exchange (002353:CH) with a market cap of over US$7.0 billion. Jereh Energy Services is focused on providing oilfield engineering, technology services and environmental services to the Chinese oil and gas industry. Jereh has subsidiaries in Houston, Calgary, UAE, Kazakhstan and Indonesia.

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 volume of soil to be processed under the BCEG contract and in respect of future business opportunities for the deployment of the TPS technology in China. 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 be awarded contracts to 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 pesticide contaminated soils in general, attempting to secure work, the uncertainty of estimates and projections relating to the value of the subcontract, 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, and risks associated with doing business in China. 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.

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