West Mountain Announces Proposed Private Placement

West Mountain Capital Corporation (TSX VENTURE:WMT)(the "Corporation" or "WMT")
announces that it intends to complete a non-brokered private placement of units
("Units") for maximum proceeds of $1,250,000. Each Unit will be comprised of one
10% convertible unsecured subordinated debenture in the total principal amount
of C$1,000.00 (a "Debenture") and 3,125 common share purchase warrants (each
such warrant, a "Warrant"). The Debentures will have a term of two years,
subject to prepayment rights in certain circumstances, and will be convertible
into common shares ("Common Shares") of the Corporation at the conversion price
of $0.32 per share. Each Warrant will entitle the holder thereof to purchase one
Common Share of the Corporation (a "Warrant Share") at a price of $0.32 per
Warrant Share at any time prior to 4:30 p.m. (Calgary time) on the date that is
two years from the date of the issuance of the Units. It is not anticipated that
any new insiders will be created, nor that any change of control will occur, as
a result of the private placement. Insiders of the Corporation have indicated
they will participate in the proposed private placement. The Debentures,
Warrants and the Warrant Shares of the Corporation shall be subject to a
statutory four-month hold period from the date of closing. Net proceeds of the
private placement will be used for general working capital purposes. Completion
of the financing is subject to receipt all normal regulatory approvals,
including approval of the TSX Venture. 


Reignwood Group

On May 23rd, 2013 WMT announced that it had selected a financial partner for the
Chinese market by entering into a joint venture agreement with The Reignwood
Group of Beijing, China ("Reignwood"). The Corporation and Reignwood intend to
incorporate a jointly owned corporation named Reignwood Environmental that will
engage in the environmental business of site remediation, brownfield
redevelopment, oily sludge treatment and other business opportunities identified
by WMT and Reignwood. 


The joint venture agreement contemplates that WMT will contribute its existing
China-based projects, clean technology and know-how to Reignwood Environmental
and that Reignwood will provide Reignwood Environmental with the financing and
marketing strength that will allow it to carry out WMT's China-based business
plan. Reignwood Environmental is to be owned as to 55% by WMT and as to 45% by
Reignwood. 


The joint venture is subject to the execution of a definitive joint venture
agreement and the acceptance of the TSX Venture Exchange. The definitive joint
venture agreement is expected to be finalized and executed by the parties on or
before July 15, 2013. 


Reignwood is a private company with investments in a number of diversified
industries including consumer goods, health & wellness, financial services, real
estate, aviation, energy and environmental. Reignwood is most well known as the
exclusive licensee of Red Bull in China and owner of the Fairmont Beijing.
Reignwood currently controls assets totalling approximately US$6.0 billion.


Update on Chinese Operations

In China, the Corporation is focused on the thermal treatment of contaminated
soil and the recovery of oil from oily sludge waste. WMT operates through three
commercial ventures, each with a Chinese business partner that has established
relationships within that market. Pursuant to these ventures, the Corporation is
currently generating revenue treating contaminated soil, completing the
build-out of a oily sludge recovery facility and commencing the construction of
a second oily sludge recovery facility.


WMT - NIES Strategic Agreement

The Corporation is party to a Strategic Cooperation Agreement with the Nanjing
Institute of Environmental Sciences ("NIES") of the State Environmental
Protection Agency, Ministry of Environmental Protection for the People's
Republic of China. Under this agreement the parties mutually funded the
construction, commissioning and testing of one Thermal Phase Separation ("TPS")
unit in China for treating contaminated soil. Testing was successfully completed
in June 2012 and subsequently NIES introduced WMT to Hangzhou Dadi Environmental
Co. Ltd. (Dadi). In October 2012 WMT entered into a subcontract arrangement with
Dadi to treat 33,000 tonnes of pesticide-contaminated soil as a commercial
demonstration of the TPS technology. 


The project is located in the city of Hangzhou. Dadi's contract for the entire
project involves the remediation of approximately 160,000 tonnes of contaminated
soil, Dadi may offer the Corporation additional volumes of soil to treat before
or following the treatment of the initial 33,000 tonnes. The Corporation
commenced work on the project in December 2012 and it is expected that the
project will conclude on or about December 31, 2013.


Dadi is a highly recognized environmental remediation contractor in China and is
currently in discussions with the Corporation to jointly pursue additional
remediation projects throughout Zhejiang and Jiangsu provinces. 


WMT - Nahai Joint Venture

The Corporation is a 50:50 equity partner in a Sino-foreign joint venture
Corporation with Zhoushan Nahai Solid Waste Central Disposal Co. Ltd. ("Nahai")
of Zhoushan, Zhejiang Province, China. The WMT-Nahai Joint Venture is designing,
engineering, constructing and will operate an oily sludge waste recovery
facility in Zhoushan, Zhejiang Province to receive, process and recover oil from
oily sludge waste generated from oil storage operations and oil tanker cleaning
activities in that region. The facility has a processing capacity of 50,000
tonnes of oily sludge per year, is currently under construction and is expected
to commence commercial operations by Q4, 2013. The Corporation is currently in
discussions with Nahai to reduce WMT's equity position from 50% to 30%, reducing
the amount of capital required for the project and allowing the Corporation
better flexibility in managing its other projects.


WMT - Huafu Subcontract

In November 2012 the Corporation entered into a 10-year subcontract agreement
with Liaoning Huafu Environmental Engineering Co. Ltd. ("Huafu") to treat
non-hazardous sludge waste generated by the Changqing Oil Corporation in
Changqing, Shanzxi Province. Huafu is a leading oilfield service company with
extensive knowledge and experience in waste management and environmental
services. Since entering into that subcontract the scope of work has expanded
and the Corporation has been requested to enhance its role in the overall waste
management contract. As such the Corporation and Huafu have entered formal
discussions to incorporate a Sino-foreign joint venture corporation. Work on the
fabrication of the sludge treatment equipment and facility commenced in February
2013 and is expected to be operational in Q4, 2013. 


About WMT

WMT is an established Canadian environmental solutions company specializing in
the thermal treatment of a variety of hazardous and non-hazardous waste streams.
It employs a unique indirectly heated, closed loop technology that allows it to
extract even the most hazardous contaminants from soil, industrial sludge,
pharmaceutical waste and consumer waste streams 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. WMT's management team
maintains expertise in hazardous waste management, Brownfield remediation and
pharmaceutical waste management with experience spanning North America and 15
countries internationally.


Forward-Looking Statements

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking information or
statements. In particular, this news release contains forward-looking
information the issuance of convertible debentures and the use of the proceeds
therefrom. The forward-looking statements and information are based on certain
key expectations and assumptions made by West Mountain, including expectations
and assumptions concerning the completion of the proposed financing. Although
West Mountain believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue
reliance should not be placed on the forward looking statements and information
because West Mountain can give no assurance that they will prove to be correct.


Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks. Such factors may include the failure to
successfully market the Debentures and failure to satisfy certain conditions in
connection with the issuance of the Debentures. Other factors which could
materially affect such forward-looking information are described in the risk
factors in the Company's most recent annual management's discussion and analysis
that is available on SEDAR at www.sedar.com. Readers are cautioned that the
foregoing list of factors is not exhaustive. The forward-looking statements
included in this news release are expressly qualified by this cautionary
statement. The forward-looking statements and information contained in this news
release are made as of the date hereof and West Mountain undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts the
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
West Mountain Capital Corp.
Mr. Paul Antle
President and CEO
709 726 0336
pantle@phaseparation.com
www.phaseparation.com
West Mountain Environmental (TSXV:WMT)
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