<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Converted by EDGARwiz</TITLE>
<META NAME="author" CONTENT="Admin">
<META NAME="date" CONTENT="12/09/2009">
</HEAD>
<BODY style="line-height:12pt; font-size:10pt; color:#000000">
<P style="margin-top:5.65pt; margin-bottom:5.65pt; font-family:Arial Unicode MS; font-size:13.5pt"><BR>
<BR></P>
<P style="margin-top:5.65pt; margin-bottom:5.65pt; line-height:15.5pt; font-family:Arial Unicode MS; font-size:13.5pt"><B>Press Release</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><I>SOURCE: Westsphere Asset Corporation, Inc.</I> </P>
<P style="margin:0pt; line-height:14pt; font-family:Arial; font-size:12pt"><B>Wednesday December 9, 2009</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Arial; font-size:11pt">PRESS RELEASE </P>
<P style="margin-top:5.85pt; margin-bottom:5.85pt; line-height:16pt; font-family:Arial; font-size:14pt"><B>Source: Westsphere Asset Corporation, Inc. (&#147;Westsphere&#148;)</B></P>
<P style="margin:0pt; line-height:18.5pt; font-family:Arial; font-size:11pt" align=justify>Calgary Alberta, Canada <B>Westsphere Asset Corporation, Inc. today</B> announces<B> </B>that the Board of Directors (the &#147;Board&#148;) has authorized the amendment of outstanding and current Stock Option and Stock Award Plan (the &#147;Plan&#148;) filed on January 26, 2005 which remains in effect to January 26, 2015. </P>
<P style="margin:0pt; font-family:Arial; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:18.5pt; font-family:Arial; font-size:11pt" align=justify>On November 12, 2009 the Board ratified and authorized the following amendments to the Plan:</P>
<P style="margin:0pt; text-indent:36pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:54pt; text-indent:-36pt; font-family:Arial" align=justify>i)</P>
<P style="margin:0pt; padding-left:54pt; font-family:Arial" align=justify>the Stock Offering Price will be equal to the highest daily trading price of the Corporation&#146;s Stock listed for trading on the date the Stock Option and/or Stock Award is issued; and</P>
<P style="margin:0pt; padding-left:54pt; font-family:Arial" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:54pt; text-indent:-36pt; font-family:Arial" align=justify>ii)</P>
<P style="margin:0pt; padding-left:54pt; font-family:Arial" align=justify>notwithstanding any event of stock dividends, stock splits, recapitalizations, mergers, consolidations, combinations, exchanges of shares, spin-offs, liquidations, reclassifications or other similar changes in the capitalization of the Company, the number of shares of Common Stock available for grant under this Plan as set out in Section 15 of the Plan shall be determined at the discretion of the Plan&#146;s Administrator as to any adjustments which may be required.</P>
<P style="margin:0pt; padding-left:36pt; font-family:Arial"><BR></P>
<P style="margin:0pt; font-family:Arial" align=justify>as a result the Board resolved the following:</P>
<P style="margin:0pt; font-family:Arial" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:54pt; text-indent:-36pt; font-family:Arial" align=justify>i)</P>
<P style="margin:0pt; padding-left:54pt; font-family:Arial" align=justify>the Corporation&#146;s Plan Administrator be authorized to; amend the Stock Offering Price to reflect the highest daily trading price of the Corporation&#146;s Stock listed for trading on the date the Stock Option and/or Stock Award is issued and to determine any adjustment to the number of shares of Common stock available for grant under the Plan as a result of any change in the capitalization of the Corporations Stock; and</P>
<P style="margin:0pt; font-family:Arial" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:54pt; text-indent:-36pt; font-family:Arial" align=justify>ii)</P>
<P style="margin:0pt; padding-left:54pt; font-family:Arial" align=justify>this Director&#146;s resolution shall be attached as an appendix to the original 2004 STOCK OPTION AND STOCK AWARD PLAN Form S- Registration Statement under the Securities Act of 1933 filed with the Securities and Exchange Commission on January 22, 2005 and shall form part of the Plan.</P>
<P style="margin:0pt; font-family:Arial; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:18.5pt; font-family:Arial; font-size:11pt">&#147;We are undertaking actions to bring current a new strategy related to Westsphere&#146;s listing on the OTC Bulletin Board as a publicly traded company,&#148; stated Doug Mac Donald, President and CEO of Westsphere Asset Corporation, Inc. &nbsp;&#147;and we are moving to take advantage of our &#145;Capital Marketplace &#145; opportunities to underwrite the financial requirements to develop our other Switch related products.&#148; </P>
<P style="margin:0pt; font-family:Arial; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Arial; font-size:11pt"><B>About Westsphere Asset Corporation</B></P>
<P style="margin:0pt; font-family:Arial; font-size:11pt"><BR></P>
<P style="margin:0pt; padding-left:36pt; line-height:13pt; font-family:Arial; font-size:11pt">Westsphere Asset Corporation, Inc. (WSHE) is a financial holding company headquartered in Calgary, Alberta Canada. &nbsp;</P>
<P style="margin:0pt; padding-left:36pt; font-family:Arial; font-size:11pt"><BR></P>
<P style="margin:0pt; padding-left:36pt; line-height:13pt; font-family:Arial; font-size:11pt">Westsphere has established through its wholly owned subsidiaries an integrated presence in the Canadian non-conventional banking sector. &nbsp;&nbsp;Centering on March 15, 2007 approval by the Canadian Interac Association to participate as an Indirect Connector and acquirer in the Associations Shared Cash Dispensing Service (SCD Service) and as an acquirer in the Associations Interac Direct Payment Service (IDP Service) Westsphere maintains and services an ABM network across Canada and is a full participating member of the Canadian INTERAC Banking System with its Switch Processor Westsphere Systems Inc.</P>
<P style="margin:0pt; padding-left:36pt; font-family:Arial; font-size:11pt"><BR></P>
<P style="margin:0pt; padding-left:36pt; line-height:13pt; font-family:Arial; font-size:11pt">With the initiation of its financial Switch processor on November 11, 2008.</P>
<P style="margin:0pt; padding-left:36pt; line-height:13pt; font-family:Arial; font-size:11pt">Westsphere has consolidated within its wholly owned subsidiaries Automated Banking Machines (ABM), Point of Sale Machines (POS), Online Computer Banking (OCB) and E-Commerce transaction security and payment Systems and its card product development. &nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Arial; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Arial; font-size:11pt">Financial Profile:</P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.6pt; padding-left:36pt; line-height:13pt; font-family:Symbol"><FONT FACE="Arial">CAPITALIZATION: 75,000,000 COMMON SHARES WITH NO PAR VALUE </FONT></P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.6pt; padding-left:36pt; line-height:13pt; font-family:Symbol"><FONT FACE="Arial">SHARES ISSUED: Common- 591,726</FONT></P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.6pt; padding-left:36pt; text-indent:72pt; line-height:13pt; font-family:Arial; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;: Voting Preferred- 1,417,118</P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.6pt; padding-left:36pt; line-height:13pt; font-family:Symbol"><FONT FACE="Arial">For further details, please refer to WSHE website </FONT></P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.6pt; padding-left:36pt; line-height:13pt; font-family:Symbol"><FONT FACE="Arial">WSHE Symbol OTCBB</FONT></P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol"><B>&#183;</B></P>
<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:36pt; line-height:13pt; font-family:Symbol"><B></B><FONT FACE="Arial"><B>Transfer Agent:</B> Holladay Stock Transfer Inc.</FONT></P>
<P style="margin-top:0pt; margin-bottom:4.6pt; padding-left:36pt; text-indent:324pt; line-height:13pt; font-family:Arial; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:36pt; line-height:13pt; font-family:Symbol"><FONT FACE="Arial">2939 North 67th Place</FONT></P>
<P style="margin-top:0pt; margin-bottom:4.6pt; padding-left:36pt; text-indent:288pt; line-height:13pt; font-family:Arial; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:4.15pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol">&#183;</P>
<P style="margin-top:0pt; margin-bottom:4.6pt; padding-left:36pt; line-height:13pt; font-family:Symbol"><FONT FACE="Arial">Scottsdale, Arizona 85251 </FONT></P>
<P style="margin:0pt; line-height:13pt; font-family:Arial; font-size:11pt">DISCLAIMER </P>
<P style="margin:0pt; font-family:Arial; font-size:11pt">Forward-Looking Statements: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and WSHE does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.<FONT FACE="Arial Unicode MS"> </FONT></P>
<P style="margin:0pt; font-family:Arial Unicode MS">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;#12 &#150; 3620 &#150; 29<SUP>th</SUP> Street N.E.</P>
<P style="margin:0pt; font-family:Arial Unicode MS">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calgary, Alberta, Canada</P>
<P style="margin:0pt; font-family:Arial Unicode MS">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T1Y 5Z8</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "f2009s8.htm", "description": "PRESS RELEASE S8 AMENDMENT", "secsgml_size_bytes": 11282}]
{"company-data": {"conformed-name": "WESTSPHERE ASSET CORPORATION, INC", "cik": "0001129120", "assigned-sic": "6199", "irs-number": "980233968", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-32051", "film-number": "091231949"}, "business-address": {"street1": "#12- 3620-29TH STREET N.E.", "city": "CALGARY", "state": "A0", "zip": "T1Y 5Z8", "phone": "403-290-0264"}, "mail-address": {"street1": "#12- 3620-29TH STREET N.E.", "city": "CALGARY", "state": "A0", "zip": "T1Y 5Z8"}, "former-company": {"former-conformed-name": "WESTSPHERE ASSET CORP INC", "date-changed": "20001129"}}
Converted by EDGARwiz
Press Release
SOURCE: Westsphere Asset Corporation, Inc.
Wednesday December 9, 2009
PRESS RELEASE
Source: Westsphere Asset Corporation, Inc. ("Westsphere")
Calgary Alberta, Canada
Westsphere Asset Corporation, Inc. today
announces
that the Board of Directors (the "Board") has authorized the amendment of outstanding and current Stock Option and Stock Award Plan (the "Plan") filed on January 26, 2005 which remains in effect to January 26, 2015.
On November 12, 2009 the Board ratified and authorized the following amendments to the Plan:
i)
the Stock Offering Price will be equal to the highest daily trading price of the Corporation's Stock listed for trading on the date the Stock Option and/or Stock Award is issued; and
ii)
notwithstanding any event of stock dividends, stock splits, recapitalizations, mergers, consolidations, combinations, exchanges of shares, spin-offs, liquidations, reclassifications or other similar changes in the capitalization of the Company, the number of shares of Common Stock available for grant under this Plan as set out in Section 15 of the Plan shall be determined at the discretion of the Plan's Administrator as to any adjustments which may be required.
as a result the Board resolved the following:
i)
the Corporation's Plan Administrator be authorized to; amend the Stock Offering Price to reflect the highest daily trading price of the Corporation's Stock listed for trading on the date the Stock Option and/or Stock Award is issued and to determine any adjustment to the number of shares of Common stock available for grant under the Plan as a result of any change in the capitalization of the Corporations Stock; and
ii)
this Director's resolution shall be attached as an appendix to the original 2004 STOCK OPTION AND STOCK AWARD PLAN Form S- Registration Statement under the Securities Act of 1933 filed with the Securities and Exchange Commission on January 22, 2005 and shall form part of the Plan.
"We are undertaking actions to bring current a new strategy related to Westsphere's listing on the OTC Bulletin Board as a publicly traded company," stated Doug Mac Donald, President and CEO of Westsphere Asset Corporation, Inc.  "and we are moving to take advantage of our 'Capital Marketplace ' opportunities to underwrite the financial requirements to develop our other Switch related products."
About Westsphere Asset Corporation
Westsphere Asset Corporation, Inc. (WSHE) is a financial holding company headquartered in Calgary, Alberta Canada.
Westsphere has established through its wholly owned subsidiaries an integrated presence in the Canadian non-conventional banking sector.   Centering on March 15, 2007 approval by the Canadian Interac Association to participate as an Indirect Connector and acquirer in the Associations Shared Cash Dispensing Service (SCD Service) and as an acquirer in the Associations Interac Direct Payment Service (IDP Service) Westsphere maintains and services an ABM network across Canada and is a full participating member of the Canadian INTERAC Banking System with its Switch Processor Westsphere Systems Inc.
With the initiation of its financial Switch processor on November 11, 2008.
Westsphere has consolidated within its wholly owned subsidiaries Automated Banking Machines (ABM), Point of Sale Machines (POS), Online Computer Banking (OCB) and E-Commerce transaction security and payment Systems and its card product development.
Financial Profile:
·
CAPITALIZATION: 75,000,000 COMMON SHARES WITH NO PAR VALUE
·
SHARES ISSUED: Common- 591,726
·
: Voting Preferred- 1,417,118
·
For further details, please refer to WSHE website
·
WSHE Symbol OTCBB
·
Transfer Agent:
Holladay Stock Transfer Inc.
·
2939 North 67th Place
·
Scottsdale, Arizona 85251
DISCLAIMER
Forward-Looking Statements: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and WSHE does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.
#12 – 3620 – 29
th
Street N.E.
Calgary, Alberta, Canada
T1Y 5Z8