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Last updated on April 18, 2014 at 11:11 EDT

WesternOne Inc. Announces Cash Distribution for May 2013

May 21, 2013

VANCOUVER, May 21, 2013 /PRNewswire/ – WesternOne Inc. (TSX: WEQ, WEQ.DB,
WEQ.DB.B and WEQ.DB.C) today announced that its Board of Directors has
approved a cash dividend of $0.05 per share for the month of May 2013
(equivalent to $0.60 per share on an annualized basis). This dividend
will be paid on June 17, 2013 to shareholders of record at the close of
business on May 31, 2013.

During April 2013, 45,563 common shares were issued at $5.25 per share
in connection with the conversion of $234,000 principal amount in 8.5%
Convertible Unsecured Subordinated Debentures (plus accrued interest),
and 37,609 common shares were issued at $7.50 per share in connection
with the conversion of $275,000 principle amount in 8% Convertible
Series 2 Unsecured Subordinated Debentures (plus accrued interest). As
at April 30, 2013, WesternOne Inc. had 24,002,923 common shares,
$4,308,000 principal amount of 8.5% Convertible Unsecured Subordinated
Debentures, $71,452,000 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