WesCan Energy Announces Loan Transaction

Core Viewpoint - WesCan Energy Corp. has secured a loan of $2,000,000 from a related party to fund drilling activities in Alberta, with a focus on oil development in the Mannville Group [1][2]. Group 1: Loan Details - The loan has a three-year term with an annual interest rate of 12%, and interest payments will be made monthly [1]. - The loan proceeds will be allocated for drilling, completion, and associated capital expenditures related to a multilateral horizontal oil well in the Provost area of Alberta [1]. - The loan is secured by a general security agreement covering all personal property of the Company [1]. Group 2: Related Party Transaction - The loan is classified as a "related party transaction" since the Lender's sole director and controlling shareholder is also a director and control person of the Company [2]. - The Company is utilizing exemptions from obtaining a formal valuation and "majority of the minority" approval as per specific sections of Multilateral Instrument 61-101 [2]. Group 3: Future Communications - Updates and press releases regarding the Company will be available on its official website [3]. - Further information about the Company's future plans will be disseminated in upcoming press releases [3].