High River, Alberta--(Newsfile Corp. - January 17, 2019) - The Western Investment Company of Canada Limited (TSXV: WI) ("Western") provides an update and clarification regarding the status of its pending insurance transaction, announced on December 18, 2018 and re-issued January 9, 2019:
Western CEO Scott Tannas stated:
"We continue to work toward completion of this transaction which will see us take a 50 percent interest in a small, Western based insurer. We are active in the building of the business plan and will take a leading role in the execution of the plan. We believe there is a growing need for specialty insurance capacity delivered by a nimble insurer with strong distribution relationships."
"Shareholders will know that since inception we have been on the lookout for our entry point into the insurance business. Insurance was one of four target industries we identified as part of our founding investment strategy. We are focused on completing the transaction and moving forward as soon as possible."
About Western
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. The company's shares are traded on the TSX Venture Exchange under the symbol WI. For more information on the company, 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, including without limitation, statements pertaining to entering into a definitive agreement, meeting the conditions to close the definitive agreement, including regulatory approval, future plans and expanding operations. 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.