VANCOUVER, Nov. 21, 2017 /CNW/ - WesternOne Inc. ("WesternOne") (Toronto Stock Exchange: WEQ and WEQ.DB) today announced that it has completed the closing of the new three-year $35 million secured asset-based revolving credit facility (the "ABL Facility") with Canadian Imperial Bank of Commerce ("CIBC"), as previously announced on November 13, 2017.

In conjunction with the closing, WesternOne drew funds under the ABL Facility to fully repay the outstanding balance of the previous $20 million demand facility. At closing, WesternOne's senior bank indebtedness, net of cash on hand, was $7.0 million.

Additional information relating to the ABL Facility is available on SEDAR at www.sedar.com or on WesternOne's website at www.weq.ca.

About WesternOne

WesternOne Inc. seeks to acquire and grow businesses in the construction and infrastructure services sectors in Western Canada. Its primary business platform, WesternOne Infrastructure Services, is a leading provider of construction heat services and aerial equipment rentals to businesses in the construction, infrastructure, film and television industries in Western Canada.

Additional Information

Additional information relating to WesternOne and other public filings, is available on SEDAR at www.sedar.com or on WesternOne's website at www.weq.ca.

Trading Symbols
Toronto Stock Exchange: WEQ and WEQ.DB

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

SOURCE WesternOne Inc.