/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, Oct. 3, 2012 /CNW/ - Great Pacific International Inc. (TSX Venture Exchange: GPI) (the "Corporation") reports that, further to its press release of September 20, 2012, it has proceeded with the corporate registries filings to effect the change of the Corporation's name to "WesCan Energy Corp." and the consolidation of its common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share ("Post-Consolidation Share") for every twenty (20) pre-consolidation Common Shares. No fractional Post-Consolidation Shares will be issued to the Corporation's shareholders and in lieu of any fractional entitlement, the number of Post-Consolidation Shares issued to each shareholders shall be rounded down to the nearest whole Post-Consolidation Share. Letters of Transmittal will be delivered to shareholders of the Corporation in due course to effect the exchange of pre- and Post-Consolidation Shares.
A new CUSIP number of 950812107 replaces the old CUSIP number of 39115P, to distinguish between the pre- and Post-Consolidation Shares.
Commencing at opening of the market on Thursday, October 4, 2012, the Common Shares of the Corporation will trade under its new trading symbol "WCE" on a post-consolidation basis on the TSX Venture Exchange. Following the consolidation there are expected to be 2,373,922 Post-Consolidation Shares outstanding (subject to rounding).
The shareholders of the Corporation previously approved, by special resolution, the change of name and the share consolidation at the special meeting of shareholders held on August 10, 2012. Further details with regard to the name change and the consolidation are contained in the management information circular of the Corporation dated July 6, 2012, a copy of which is available electronically at www.sedar.com.
Statements in this joint press release contain forward-looking information within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Readers are cautioned that assumptions used in the preparation of forward-looking information may prove to be incorrect. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. The Corporation undertakes no obligation to update or revise any forward-looking statements to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILTY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
SOURCE: Great Pacific International Inc.
For further information:
Greg T. Busby, President & CEO
WESCAN ENERGY CORP.
Dwight Fieseler, Chief Financial Officer
WESCAN ENERGY CORP.
Tel: (403) 540-9312
Fax: (403) 246-1291