Western Investment Company CEO Provides COVID -19 Update to Shareholders

About this update from Western Investment Company Of Canada Limited

[{"type":"text","content":"Western Investment Company CEO Provides COVID -19 Update to ShareholdersHigh River, Alberta--(Newsfile Corp. - April 14, 2020) -  The Western Investment Company of Canada Limited (TSXV: WI) (\"WICC\" or \"Western\") announced today that it has distributed a message to shareholders from President & CEO Scott Tannas.In his message to shareholders, WICC CEO Scott Tannas provided the following commentary: \"The executive team at WICC is actively engaged in making sure that all our investee companies have the resources they need to manage through the COVID 19 crisis. We became involved early and extensively at all levels of planning and execution to ensure that our companies were meeting their unique challenges. To date, we have been successful in putting plans in place that we believe will allow all our companies to emerge from this crisis intact.- GlassMasters remains open for business in their locations and with their extensive mobile service fleet. The workforce has been temporarily reduced to fit the volume of current sales activity and are on standby for recall and ramp up as business normalizes.- After a very encouraging start to the year, Ocean Sales has suffered a significant reduction in revenue since the COVID crisis. Not surprising given their business model is all about demonstrating and selling their consumer products at shows, exhibitions and public events and also with high consumer traffic partner retailers. They have the resources to hunker down, invest more time in their online sales channel - which is gaining traction- and prepare for the relaxation of current restrictions around public gatherings and will be ready to resume their operations when the time comes.- Foothills Creamery remains in high production mode producing ice cream and butter for consumers who are baking and cooking at home more than usual, and feeding their cooped up kids generous servings of ice cream.- Golden Health Care facilities are taking all possible precautions to protect their residents, while maintaining steady occupancy levels. This company has significant cash reserves to meet any future challenge.- Fortress Insurance is busy growing - adding new customers and premiums every month. The equity component of the investment portfolio at Fortress has been impacted by the market but mitigated by our 75% allocation to fixed income ...

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