West Mountain Announces Proposed Transaction with Jereh International Investment (Group) Company Limited

West Mountain Capital Corp. (the "Company" or "West Mountain") (TSX VENTURE:WMT)
announces that it has executed a binding heads of agreement ("Heads of
Agreement") with Jereh Energy Services Corporation ("Jereh") of Yantai, China
that sets out the terms and conditions of a private placement, the establishment
of joint venture in China and other related transactions (collectively, the
"Transaction"). 


The Heads of Agreement provides for: (a) the subscription by Jereh for new
common shares of West Mountain (the "Common Shares") with an aggregate value of
US$7,000,000 at a share price equal to 130% of the average trading price of West
Mountain's common shares on the TSX Venture Exchange ("TSXV") for the 30 days
preceding the date of the Heads of Agreement (the "Private Placement"); (b) the
establishment of a joint venture ("the JV") for the purpose of remediating
hazardous waste from the Chinese oil and gas industry by the Company's wholly
owned foreign enterprise located in Shanghai, China ("PS2SH") and Jereh; (c) the
grant by the Company to the JV an exclusive sub-license for the thermal phase
separation technology for hazardous waste remediation in the Chinese oil and gas
industry; and (d) the grant by the Company to Jereh of the exclusive right to
manufacture the thermal phase separation units to be purchased by the JV in
China. The proceeds of the Private Placement with Jereh will be used to repay
outstanding bank indebtedness, to repay monies owned to debentureholders, to
further underwrite the build-out of West Mountain's business plan in China and
for general operating purposes. The price of $0.28 per common share is reserved
as the issue price for the Private Placement.


Upon completion of the Transaction, Jereh will own approximately 39% of the
outstanding common shares of West Mountain and 70% of the JV in mainland China.
As a condition of the Transaction, Jereh will be provided with the right to
nominate two directors to the board of directors of the Company, with such
persons to be acceptable to the TSXV. This right will terminate on the earlier
of (i) sale by Jereh of 50% of its common shares of West Mountain; or Jereh's
percentage ownership of outstanding common shares of West Mountain falls below
10% (ownership maintained between 10%-30% grant Jereh the right to have at least
one designee serve as a director) other than as a result of currently
outstanding exercisable/convertible securities of West Mountain or on the
exercise of options granted under West Mountain's stock option plan from time to
time.


Joint Venture

West Mountain and Jereh have agreed in the Heads of Agreement to form a joint
venture in China in accordance with the following principal terms and
conditions: (a) the JV will be a joint venture company incorporated under the
laws of the People's Republic of China; (b) the JV will have registered capital
of US$1.0 million, of which US$700,000 in cash will be contributed by Jereh and
US$300,000 in cash will be contributed by PS2SH, with the resulting
participating interests of Jereh and PS2SH in the JV being 70% and 30%
respectively; (c) the profits of the JV will be shared by Jereh and PS2SH on the
basis of their respective participating interests in the JV; (d) the purpose of
the JV will be to provide services exclusively for the remediation of hazardous
waste to the Chinese oil and gas industry; (d) Jereh will be solely responsible
for the JV's working capital requirements according to JV's operation, such
financing behaviour including amount and interest rate shall be decided by JV's
management team. PS2SH will have the right to appoint only one key member of the
JV's management team; (e) Jereh will be solely responsible for the manufacture
of equipment required by the JV for its projects, including thermal units; and
(f) West Mountain will provide the JV, when requested by JV, with professional
and technical services.


In addition to conditions customary for transactions of this nature, the
completion of the Transaction is conditional upon the following: (a) the
completion by West Mountain, Jereh and their respective advisors of "due
diligence" investigations satisfactory to the parties in their respective sole
discretion; (b) the entering into of definitive binding agreements providing for
the various transactions that comprise the Transaction; and (c) the Company
receiving all necessary consents and approvals, including approval by the TSXV
of the Private Placement. The definitive agreements providing for the
Transaction are expected to be finalized and executed by the parties on or
before January 15, 2014.


About Jereh

Jereh Energy Services Corporation is wholly owned by Yantai Jereh Group, a
public company listed on the Shenzhen Stock Exchange (002353:CH) with a market
cap of over $7.0 billion. The company is focused on providing oilfield
engineering, technology services and environmental services to the Chinese oil
and gas industry. Jereh has subsidiaries in Houston, Calgary, UAE, Kazakkhstan
and Indonesia.


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. 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. The Company's management team maintains expertise in hazardous
waste management, Brownfield remediation and pharmaceutical waste management
with experience spanning North America and 15 countries internationally.


Update

The Company will not proceed with the proposed transactions with Reignwood
International Investment (Group) Company Limited announced on July 10, 2013.


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 regarding the Transaction and the use of the proceeds received from
the Private Placement. 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 transactions
described in this news release. 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. There is no assurance that the
Transaction or any of the other transactions described in this news release will
be completed on the terms set out in this news release or at all.


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. Factors which could materially affect such
forward-looking information include the failure to enter into definitive
agreements that provide for the Transaction described in this news release and
other factors that 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. 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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