West Mountain Environmental Corp. (the "Company") (TSX VENTURE:WMT) announces that Jereh Energy Services Corporation ("Jereh") has provided the Company with a notice that the Company is default of its obligations to pay the amounts owing under the 6.5% Convertible Bond held by Jereh. A demand payment of the amount of CDN$4,272,370 together with interest and costs accruing after April 3, 2017 (the "Indebtedness") has also been issued by Jereh. In addition, Jereh has provided the Company with a Notice of Intention to Enforce Security under section 244(1) of the Bankruptcy and Insolvency Act (Canada) giving notice of Jereh's intention to enforce its security in respect of the Indebtedness within 10 days following April 12, 2017.
About West Mountain
West Mountain is an established Canadian environmental solutions company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams. Through its subsidiaries it employs a unique indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil and industrial sludge converting much of it into reusable oil and synthetic natural gas that it uses to sustain the process. This methodology offers significant opportunity for greenhouse gas reduction over traditional hazardous waste destruction technologies. The Company's management team maintains expertise in hazardous waste management and contaminated site remediation with experience spanning North America and 15 countries internationally.
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