On June 17, 2021, Georgetown Solar Inc. and Westbridge Energy Corporation completed their business combination. The transaction was structured as a three-cornered amalgamation pursuant to which Georgetown amalgamated with a wholly-owned subsidiary of Westbridge, and Westbridge acquired all of the issued and outstanding shares of Georgetown from the shareholders of Georgetown in exchange for the issuance of common shares of Westbridge to such shareholders.
The transaction resulted in the reactivation of Westbridge pursuant to the regulations of the TSX Venture Exchange, and Westbridge’s shares will commence trading on the TSXV on Monday, June 21, 2021 under the symbol WEB.
Georgetown is currently in the process of assessing for development the solar property known as the Georgetown project, which is comprised of approximately 710 acres located in Vulcan County, Alberta. To date, Georgetown has conducted fieldwork, wetland delineation and classification and engineering assessments with respect to the Georgetown Project, with a view to the development of the project to “ready to build” status and divestiture. Following the completion of the transaction, Westbridge will focus primarily upon the further assessment and development of the Georgetown Project, while seeking additional solar project development opportunities.
Cassels acted for Georgetown.