WEQ Holdings Inc T.WEQ

WesternOne Inc. Announces Redemption of 8% Debentures

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WesternOne Inc. ("WesternOne") (WEQ.TO) (TSX:WEQ.DB) (WEQ-DBC.TO) announced today that it has completed the redemption (the "Redemption") of all outstanding 8% Extendible Convertible Unsecured Subordinated Debentures due June 30, 2018 (the "Debentures"). As at the close of business on August 4, 2016, the last day holders of the Debentures were entitled to convert their Debentures into common shares of WesternOne prior to the Redemption, $71,027,000 principal amount of the Debentures was outstanding. 555,929,295 common shares of WesternOne were issued at a price of approximately $0.1278 per common share in respect of the Redemption. WesternOne paid cash to satisfy the accrued and unpaid interest on the Debentures up to, but excluding, August 5, 2016. After giving effect to the Redemption, a total of 595,590,892 common shares of WesternOne are issued and outstanding.