The Western Investment Company of Canada to Proceed with Normal Course Issuer Bid

About this update from Western Investment Company Of Canada Limited

[{"type":"text","content":"The Western Investment Company of Canada to Proceed with Normal Course Issuer BidCalgary, Alberta--(Newsfile Corp. - January 19, 2024) - The Western Investment Company of Canada Limited (TSXV: WI) (the \"Corporation\", \"WICC\" or \"Western\") announces that it has obtained regulatory approval to proceed with a normal course issuer bid (the \"Bid\") whereby Western may purchase up to a total of 1,500,000 common shares in the capital of the Corporation (\"Common Shares\") representing approximately 5.0% of the Common Shares currently issued and outstanding (30,207,756 common shares were outstanding as of today's date).It is expected that the Bid will commence on February 10, 2024 and terminate on February 9, 2025. All acquisitions of Common Shares by the Corporation pursuant to the Bid will be made through the facilities of TSX Venture Exchange Inc. as well as other recognized Canadian exchanges and alternative trading systems at the market price of the Common Shares at the time of the acquisition. There are no persons acting jointly or in concert with the Corporation in respect of the Bid.WICC believes that there is a potential that the market price may not reflect the underlying value of the Corporation given the lack of liquidity in the Common Shares. The Bid will allow the Corporation to stabilize the trading price of the Common Shares and at such times, represents an appropriate use of the Corporation's financial resources and would be in the best interests of shareholders.The Corporation has appointed ATB Capital Markets Inc. to conduct the Bid on its behalf.About The Western Investment Company of Canada Limited Western is a unique publicly traded, private equity company founded by a group of successful Western Canadian businesspeople, and dedicated to building and maintaining ownership in successful Western Canadian companies, and helping them to grow. Western's shares are traded on the TSX Venture Exchange under the symbol WI. For more information on Western, please visit its website at www.winv.ca. CONTACT INFORMATION - The Western Investment Company of Canada Limited Scott Tannas President and Chief Executive Officer (403) 652-2663 [email protected] AdvisoryThis news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the commencement of the B...

More updates from Western Investment Company Of Canada Limited