Western Investment Company Of Canada Limited · TSXV:WI
Western Investment Company Of Canada — The Western Investment Company of Canada — Merger or Acquisition (September 2024)
13 slides from Western Investment Company Of Canada's merger presentation, September 2024
Slide 1: Revising our Approach to Expedite the Transaction
Revising our Approach to Expedite the Transaction B r i n g i n g T w o P r o v e n Te a m s To g e t h e r 1
Slide 2: Cautionary Statements
This presentation contains non-IFRS measures and forward-looking statements, including a discussion of Western’s business plans, targets, expectations, and outlook. Readers are cautioned not to place undue reliance on these forward-looking statements since a number of factors could cause actual resu
Slide 3: Today's Speakers
Today’s Speakers S C O T T TA N N A S President and CEO of the Western Investment Company of Canada Limited (“Western”) • Founded Western Financial Group in 1993 and served as CEO until 2014 • Proven leader with 30 years of insurance experience • Senator, Senate of Canada, since 2013 PA U L R I V E
Slide 4: $15 million Revised Transaction
Revised Transaction $15 million • Simplifies the original transaction to expedite its completion Minimum Capital Raise Backstopped by • Removes Multiple Voting Share structure $5 million Lead Order from Tevir $37 million • Avoids Control Person designation Total potential raise if all rights exercis
Slide 5: Transaction Timeline
• Negotiated the Original Transaction, including the Multiple Voting Dec 2023 Shares, and discussed with regulators Mar 2024 • Based on positive response Western announced Original Transaction Transaction • Multiple Voting Share structure and the acquisition of 100% of Fortress Timeline Apr – Jun 20
Slide 6: Comparison of Original Transaction and Revised Transaction
Original Revised Transaction Transaction Multiple Voting Share structure Yes No Able to acquire 100% of Fortress in the near-term No Yes Prospectus level disclosure Yes No Comparison of Tevir designated Control Person Yes No Original Transaction Minimum capital requirements ($ millions) 20 15 and Ri
Slide 7: Next Steps
• Revised Transaction announced including $5 million backstop Aug 2024 commitment from Tevir • Secure additional backstop commitments for $10 million Sept 2024 Next Steps • Complete Fortress Share Exchanges Oct-Nov • Rights Offering 2024 • Close Fortress cash purchases concurrently with the rights N
Slide 8: $15 million Revised Transaction
Revised Transaction $15 million • Transform Western’s focus towards insurance-related acquisitions and long- term value-based investing. Minimum Capital Raise Backstopped by • Through prudent insurance underwriting $5 million Lead Order from Tevir and decentralized acquisitions generate $37 million
Slide 9: Transaction is Designed to Maximize Value for all Shareholders
Transaction is Designed to Maximize Value for all Shareholders Proven Team Capital Foundation with successful track record to scale the insurance and investments platform Proven Platform Long-term Stability for insurance and investments and protection from opportunistic acquisitions 9
Slide 10: Contact Us for Next Steps
Contact Us for Next Steps S C O T T TA N N A S President and CEO of the Western Investment Company of Canada Limited (“Western”) • stannas@winv.ca • (403) 652-0408 TOM MCMILLAN Investor Relations • tom@marketclimber.com • 1-800-880-6491 10
Slide 11: Advisories
Advisories This presentation (the "Presentation") has been prepared by the management of The Western Investment Company of Canada Limited ("Western" or "WIC") for informational purposes only based on public information. The sole purpose of this Presentation is to provide the recipient with informati
Slide 12: Forward Looking Information
Forward Looking Information The TSXV has in no way passed upon the merits of the Revised Transaction and has neither approved nor disapproved the contents of this presentation. There can be no assurance that the Revised Transaction will be completed as proposed or at all. This document contains forw
Slide 13: Note 1 – Capital Raise Assumptions
Note 1 – Capital Raise Assumptions Western currently has 30,207,756 Common Shares outstanding. Western is planning to launch a rights offering based on one (1) right ("Right") granted to shareholders for each one (1) Common Share outstanding as of a certain record date ("Rights Offering"). Western h
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