WestBond Enterprises Corporation
TSX VENTURE : WBE

WestBond Enterprises Corporation

July 17, 2007 18:53 ET

WestBond Closes Financing

DELTA, BRITISH COLUMBIA--(Marketwire - July 17, 2007) - WestBond Enterprises Corporation (TSX VENTURE:WBE)("WestBond") is pleased to announce that further to its news release of July 12, 2007 it has closed a non-brokered private placement of 1,060,000 units ("Units") at a price of $0.095 per Unit for gross proceeds of $100,700. Each Unit is comprised of one common share and one common share purchase warrant, each warrant entitling the holder to purchase one additional common share at a price of $0.125 per share for a period of five years after the date of issuance.

The Units and any shares issued on the exercise of the warrants are subject to a hold period that expires on November 18, 2007.

WestBond intends to use the proceeds to reduce bank indebtedness and for general working capital.

As set out in the previous news release, insiders of WestBond participated in the private placement. Gennaro Magisrale, President of WestBond of 7871 - 82nd Street, Delta, British Columbia, V4G 1L9, purchased 526,316 Units for $50,000 cash, representing approximately 4.76% of the issued and outstanding share capital of WestBond as at July 17, 2007.

Following the acquisition described above, Mr. Magisrale owns an aggregate of 1,408,524 common shares and warrants and options to purchase in aggregate 926,316 common shares, which if no other convertible securities of WestBond were converted, would represent approximately 19.47% of WestBond's shares as at July 17, 2007 (assuming exercise of Mr. Magistrale's options and warrants).

The acquisition was made for investment purposes only. Mr. Magistrale may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over common shares or other securities of WestBond through market transactions, private agreements, treasury purchases, exercise of convertible securities or otherwise.

Mr. Magistrale will file a report describing the above transactions with applicable securities regulators, a copy of which will be available from WestBond at 604-940-3939 and under WestBond's profile at www.SEDAR.com.

WestBond is listed on the TSX Venture Exchange and trades under the symbol "WBE".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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