/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
SASKATOON, Sept. 12, 2018 /CNW/ - Westcore Energy Ltd.
("Westcore" or the "Company") (TSXV: WTR) reminds holders of the Company's outstanding rights
("Rights") (TSXV: WTR.RT) of important, upcoming deadlines and details for the Rights offering ("Rights
Offering") previously announced on August 2, 2018.
Important Details and Reminders
- Rights expire at 2:00 pm Saskatoon time on September 21, 2018;
- You must take action to exercise or sell your Rights;
- Rights can be bought or sold publicly on the TSXV – symbol "WTR.RT";
- Rights will trade for cash settlement for the 3 days prior to expiry, beginning September 18,
2018;
- One Right plus the sum of $0.02 entitles the holder to
subscribe for one unit of the Company, each unit comprised of one Westcore common share ("Common Share") and one common
share purchase warrant ("Warrant");
- Each Warrant entitles the holder to purchase an additional Common Share at a price of $0.085
per Common Share for a two (2) year period;
- The rights offering circular available on SEDAR and on the Company's website: westcoreenergy.ca.
Use Of Proceeds
Westcore plans to use the available funds from the Rights Offering to increase the daily oil production in the oil
fields operated by Westcore and reduce the operating cost of that production, all with a view to increasing monthly cash flows to
the Company. A relatively small amount of the proceeds is intended to be applied to the existing working capital deficiency, as
the Company feels this deficiency is better resolved through increased production and reduced operating costs.
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT
BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION
OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale
of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward Looking Statements
This release includes forward-looking statements regarding Westcore and its business. Such statements are based on
the current expectations and views of future events of Westcore's management. In some cases the forward-looking statements
can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate",
"believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The
forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of the
failure to complete the rights offering, known and unknown risk factors and uncertainties affecting Westcore, including risks
regarding the oil and gas industry, economic factors and the equity markets generally and many other factors beyond the control
of Westcore. No forward-looking statement can be guaranteed. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or industry results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place
undue reliance on any forward-looking statements or information. Forward-looking statements speak only as of the date on
which they are made and Westcore undertakes no obligation to publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Westcore Energy Ltd.
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