Way Ventures Inc. provided a progress update of its proposed qualifying transaction with UGE Holdings Limited. Pursuant to the letter of intent entered into on August 16, 2013 UGE, the owner of Urban Green Energy Inc., Way Ventures and UGE will complete a business combination (the transaction) whereby all of the issued and outstanding securities of UGE will be exchanged for securities of Way Ventures. Prior to closing of the Transaction, UGE will complete an arm's length non-brokered private placement of 1,406,210 common shares at a purchase price of $3.56 per share for aggregate gross proceeds of $5,000,000 resulting in the issuance of an additional 5,159,770 common shares of the resulting issuer (being Way Ventures following completion of the Transaction (the resulting issuer) after applying the Share Exchange Ratio).

John Michael (Mike) Barnsley is the proposed Chief Financial Officer of the resulting issuer and Jian Yang is the proposed Chief Operating Officer and Secretary. Mr. Barnsley is currently Chief Financial officer and Corporate Secretary for Epic Fusion Corp.