Westbridge Renewable Energy Announces Grant of Stock Options

TORONTO, March 21, 2023 /PRNewswire/ – Westbridge Renewable Energy Corporation (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) (“Westbridge“, “Westbridge Renewable” or the “Company“) announces that it has granted stock options to purchase an aggregate of 3,255,000 common shares of the Company (“Common Shares“) to management, directors, and consultants of the Company, of which 1,905,000 were issued to directors and officers of the Company, pursuant to the terms of the Company’s Omnibus Long-term Incentive Plan. The options are exercisable at a price of $0.75 per Common Share. All Options expire on the date that is five years from the date of grant and vest in one-third tranches on the date of grant, and on the one-year and two-year anniversary of the date of grant. The Company granted 50,000 Options to Momentum IR Corp., an investor relations services provider, which vest in four equal tranches on the dates that are six, twelve, eighteen and twenty-four months after the date of grant. Options are subject to approval of the TSX Venture Exchange. The Company has also granted restricted share units (“RSUs”) representing the right to receive up to an aggregate of 625,000 Common Shares, of which 525,000 RSU’s were issued to directors and officers of the Company, subject to the satisfaction of certain vesting conditions, to certain directors, officers, and consultants of the Company. All Options and RSU’s were granted pursuant to the Company’s Omnibus Long-term Incentive Plan, approved by shareholders on September 15, 2022, and are subject to the terms of the applicable agreements and regulatory approval of the TSX Venture Exchange.

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