Western Pacific Trust Company Announces Closing 1st Tranche of Private Placement of Series I Preferred Shares

Western Pacific Trust Company (TSX VENTURE:WP) -  

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER THE UNITED STATES NEWSWIRE
SERVICES.


Western Pacific Trust Company (the "Company" or "Western Pacific") announces
that it has closed the first tranche of its private placement (the "Offering")
of Series I Preferred Shares (each, a "Share") today. The Offering was announced
on December 23, 2011 which news release contains the terms of the Offering and
describes the special rights and restrictions attached to the Shares. In the
first tranche, the Company issued 17,500 Shares for gross proceeds of $175,000. 


The Company intends to use the proceeds of the Offering to fund corporate
overhead and for general working capital purposes. All of the Shares issued
pursuant to the first tranche of the Offering were issued to insiders of the
Company. As the Series I Preferred Shares are non-voting and are not convertible
into listed shares of the Company, participation by insiders of the Company in
the Offering is not expected to increase such insiders' control over the voting
securities of the Company. 


All of the Shares issued pursuant to the first tranche of the Offering will be
subject to a hold period which expires May 17, 2012. In addition, the Shares may
not be sold, transferred or otherwise disposed of without the consent of the
board of directors of the Company, and the board of directors is not required to
give any reason for refusing to consent to any such sale, transfer of other
disposition. The Offering and the issuance of the Shares was approved by the
TSXV. 


This news release is not an offer of Shares for sale in the Unites States. The
Shares have not been and will not be registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sole in the United States absent
registration or an applicable exemption from registration. This press release
shall not constitute an offer to sell or solicitation of an offer to buy nor
shall there by any sale of the above described securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.


About Western Pacific Trust Company

Western Pacific Trust Company is a non-deposit taking financial institution.
Western Pacific is licensed under the Financial Institutions Act in British
Columbia, and is also registered extra-provincially in Alberta, as a non-deposit
taking Trust Company. Western Pacific has two wholly owned subsidiaries: Western
Equity Loans Ltd., a registered mortgage broker in British Columbia, and
Futureworth Financial Planners Corp.


On Behalf of the Board, 

WESTERN PACIFIC TRUST COMPANY

John de Wit, President and CEO

This news release contains forward-looking statements and forward-looking
information, which are based on information currently available to the Company,
and the Company provides no assurance that actual results will meet management's
expectations. Forward-looking information includes estimates and statements that
describe the Company's future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or result to
occur. Such information can generally be identified by the use of
forward-looking wording such as "may", "expect", "estimate", "anticipate",
"intend", "believe" and "continue" or the negative thereof or similar variations
and includes the statements that the Company intends to use the proceeds of the
Offering to fund overhead and working capital, participation in the Offering by
insiders is not expected to increase insiders' voting control over the
securities of the Company and the hold period on the Shares will expire May 17,
2012 Actual results relating to, among other things, the use of proceeds, change
in control of the voting securities of the Company and future business plans of
the Company, could differ materially from those currently anticipated in such
information for many reasons such as: the failure to obtain the requisite
approvals; the failure to satisfy conditions to closing; changes in general
economic conditions and conditions in the financial markets; and other matters
discussed in this news release. This list is not exhaustive of the factors that
may affect any of the Company's forward-looking information. These and other
factors should be considered carefully and readers should not place undue
reliance on the Company's forward looking information. The Company does not
undertake to update any forward-looking information that may be made form time
to time by the Company or on its behalf, except in accordance with applicable
securities laws.

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