Western Investment Company Holds Annual Meeting, Grants Stock Options

High River, Alberta--(Newsfile Corp. - June 23, 2023) - The Western Investment Company of Canada Limited (TSXV: WI) (the "Company" or "Western") announces that it held its annual general and special meeting, where the Company's shareholders elected directors, appointed auditors and approved Western's stock option plan (the "Plan").

Subject to regulatory approval, Western granted stock options to purchase 50,000 common shares to each of the five directors of the Company, and stock options to purchase a total of 25,000 common shares to an officer, at an exercise price of $0.35 cents per share, representing the previous day's closing price on the TSX Venture Exchange, which vest immediately and expire on June 22, 2033. Options are issued to directors in lieu of cash fees and retainers.

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]

Advisory

This news release may contain certain forward-looking information and statements. Statements containing the words: 'believes', 'intends', 'expects', 'plans', 'seeks' and 'anticipates' and any other words of similar meaning are forward-looking. All statements included herein involve various risks and uncertainties because they relate to future events and circumstances beyond Western's control. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Western's disclosure documents on the SEDAR website at www.sedar.com. Any forward looking statements are made as of the date of this news release and Western does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/171055