Westcore Announces Increase to Financing Size

SASKATOON, SASKATCHEWAN--(Marketwired - Dec. 17, 2015) - WESTCORE ENERGY LTD. (TSX VENTURE:WTR) ("Westcore" or the "Company") reports that the size of its previously announced equity offering of units (see news release November 19, 2015) has been increased from $500,000 to $600,000. Each unit is being offered at a subscription price of $0.02 per unit and will consist of one common share of the Company and one common share purchase warrant. Each will entitle the holder thereof to acquire one common share at a price of $0.03 per common share (subject to completion of a one-for-five consolidation) until the date that is twenty-four (24) months from the date of completion of the Company's acquisition of a 100% working interest in the oil and gas properties of 49 North Resources Inc. ("FNR") and its wholly-owned subsidiary, Allstar Energy Limited ("Allstar"), in addition to the subsequent acquisition of all associated oil and gas property and equipment of FNR and Allstar.

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Except for statements of historical fact, this news release contains certain "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. In particular, forward-looking information in this press release includes, but is not limited to, the completion of the financing for gross proceeds of up to $600,000 and the completion of the potential Transaction. 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, 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.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; commodity prices; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. 

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