VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2013) - Westbridge Energy Corporation ("Westbridge" or the "Company") (TSX VENTURE:WEB)(FRANKFURT:PUQ1), an oil and gas exploration and development company with a large prospective land package in Namibia, wishes to clarify its new release of January 14th, 2013 in which the Company announced that it had retained MZ-HCI, LLC, a MZ Group company of New York, USA as its investor relations advisor in Canada and the U.S.
MZ Group will assist Westbridge with communicating its corporate, financial and investor-related developments to shareholders and investors, as well as expanding its shareholder base, particularly in Canada and the U.S.
The initial term of the agreement with MZ Group will be six months with automatic renews thereafter of six months unless either party delivers notice of termination at least 30 days prior to the then current term. MZ Group will receive a monthly fee of US$7,000 for the first six month term being a total of US$42,000. In addition the Company will issue to MZ-HCI, LLC options to purchase 250,000 shares of the Company at $0.35 per share for a period of three (3) years. 25% of the options will vest immediately and 25% will vest each 6 month period thereafter.
If the Company renews the agreement with MX Group for a second six month term MZ Group's fee will increase to US$10,000 and the Company will issue to MZ-HCI, LLC options to purchase an additional 250,000 shares of the Company at a strike price equal to the last closing date of the Company's shares on the date prior to the date the Company issues a news release announcing the granting of stock options.
Westbridge Energy Corporation is an oil and gas exploration and development company with an 80% interest in Block 1811B in the highly prospective Namibian seismic trend. Westbridge is currently reviewing the acquisition of accretive new international oil and gas opportunities.
Readers are invited to review additional corporate and property information at www.westbridgeweb.com and on SEDAR at www.sedar.com.
About MZ Group
MZ Group, subsidiary of @titude Global, a multinational company and the world's largest independent global investor relations consulting firm, provides investor relations, corporate communications, market intelligence, corporate governance and technology products and services. Founded in 1999, MZ Group focuses on innovation and personalized services, supported by its exclusive "one-stop-shop" business model. With offices in São Paulo, New York, Chicago, San Diego, Vancouver, Hong Kong, Beijing, Shanghai, Taipei and Mumbai, MZ has approximately 350 professionals who serve over 580 clients in 12 countries. For more information, please visit www.mzgroup.com.
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", "schedule", "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 and information concerning the Company s future operations and prospects. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning equipment and crew availability, and joint venture partner financial capability. Although the Company 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 the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the Company's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, reservoir performance, labour, equipment and material costs, access to capital markets, interest and currency exchange rates, and political and economic conditions. Additional information on these and other factors is available in continuous disclosure materials filed by the Company with Canadian securities regulators. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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