Western Pacific Trust Company
TSX VENTURE : WP

Western Pacific Trust Company

November 09, 2006 14:04 ET

Western Pacific Trust Company: Debenture Offering by Subsidiary

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 9, 2006) - Western Pacific Trust Company (TSX VENTURE:WP) announces the issuance by its wholly owned subsidiary, Western Equity Loans Ltd., of an Offering dated November 8, 2006, of up to $5,000,000 of an 8% Debenture. The Offering will close on February 28, 2007.

The Debentures are offered to qualified investors at a minimum price of $50,000 per debenture. Interest on the 8% debentures is calculated annually and payable semi-annually in August and February, commencing August 31, 2007. The Debenture, which is non-redeemable and non-retractable, will mature on February 28, 2010.

The Offering is subject to a minimum subscription in the aggregate amount of $2,500,000. If the minimum subscription level is not achieved, the funds will be returned to investors without deduction and with interest earned thereon.

The Debentures offered may only be purchased by eligible residents of the Provinces of British Columbia, Alberta and Ontario.

The proceeds of the Offering will primarily be used to expand the short term high yield real estate mortgage business of Western Equity Loans Ltd., and to provide expansion working capital. Western Equity Loans Ltd. is licensed as a mortgage broker in British Columbia and Ontario.

About Western Pacific Trust Company

Western Pacific Trust Company is a non-deposit taking financial corporation. Western Pacific is licensed under the Financial Institutions Act in British Columbia as a Trust Company, and is also registered extra-provincially in Alberta as a non-deposit taking Trust Company. Western Pacific Trust has two wholly owned subsidiaries: Futureworth Financial Planners Corp., a licensed mutual fund dealer in British Columbia, Alberta, Ontario and Nova Scotia, and Western Equity Loans Ltd., a registered mortgage broker in British Columbia and Ontario.

Victor Lee, President and CEO

This news release was prepared by the Board of Directors which is solely responsible for its contents.


The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

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