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Last updated on April 19, 2014 at 13:20 EDT

WesternOne Inc. Announces Cash Distribution for April 2013

April 19, 2013

VANCOUVER, April 19, 2013 /PRNewswire/ – WesternOne Inc. (TSX: WEQ), (TSX:
WEQ.DB.B) and (TSX: WEQ.DB.C) today announced that its Board of
Directors has approved a cash dividend of $0.05 per share for the month
of April 2013 (equivalent to $0.60 per share on an annualized basis).
This dividend will be paid on May 15, 2013 to shareholders of record at
the close of business on April 30, 2013.

During March 2013, 725,018 common shares were issued at $5.25 per share
in connection with the conversion of $3,739,000 principal amount in
8.5% Convertible Unsecured Subordinated Debentures (plus accrued
interest), and 764,848 common shares were issued at $7.50 per share in
connection with the conversion of $5,641,000 principle amount in 8%
Convertible Series 2 Unsecured Subordinated Debentures (plus accrued
interest). As at March 28, 2013, WesternOne Inc. had 23,919,751 common
shares, $4,542,000 principal amount of 8.5% Convertible Unsecured
Subordinated Debentures, $71,727,000 principal amount of 8% Convertible
Series 2 Unsecured Subordinated Debentures and $51,750,000 principal
amount of 6.25% Convertible Series 3 Unsecured Subordinated Debentures
outstanding.

The policy of WesternOne Inc. is to pay cash dividends on or about the
15th day of each month to shareholders of record on the last business
day of the preceding month.

About WesternOne Inc.

WesternOne Inc. seeks to acquire and grow businesses in the construction
and infrastructure services sector in order to generate stable and
growing dividends to its shareholders and to achieve capital
appreciation.

Additional information about WesternOne Inc. is available at www.weq.ca or www.sedar.com.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

SOURCE WesternOne Inc.


Source: PR Newswire