Western Investment Company Unveils Exciting Rights Offering

Western Investment Company Introduces New Rights Offering

CALGARY, Alberta — The Western Investment Company of Canada Limited (TSXV: WI) is thrilled to announce its upcoming rights offering aimed at enhancing shareholder value. This offering will allow holders of the Corporation's common shares the opportunity to purchase additional shares at an attractive subscription price.

Details of the Rights Offering

Shareholders on record as of a specified date will receive rights, enabling them to subscribe for one common share for each share they hold. Each right allows shareholders to purchase additional shares at CDN $0.40 each, a compelling price for those looking to increase their stake in the company.

Trading Information

Pending final approval from the TSX Venture Exchange, the common shares are set to begin trading on an ex-rights basis soon. This means any shares purchased after a designated date will not qualify for the rights offering, allowing existing shareholders a unique advantage.

Expiry and Additional Subscription Privileges

The rights offering will conclude at 4:00 p.m. Calgary time on the expiry date, at which point any unexercised rights will become invalid. Importantly, those who fully exercise their rights will also qualify to subscribe for any additional shares remaining after the main allocation, subject to certain limitations.

Proceeds and Corporate Strategy

This initiative is expected to raise substantial funds, with a maximum of approximately $22 million projected if all rights are exercised. The proceeds are designated for general corporate purposes and potential acquisitions in the insurance sector, a strategic focus for the company’s growth.

Shareholder Participation

Western encourages its shareholders, including directors and officers, to consider participating in this opportunity. Their commitment to exercising their rights reflects confidence in the company’s future prospects.

Regulatory Approval and Advisors

This rights offering is contingent upon the necessary regulatory approvals, which Western has received conditionally. Additionally, Western has engaged Cormark Securities Inc. and Raymond James Ltd. as advisors to assist in their strategic financial initiatives, including a separate private placement announced previously.

About Western Investment Company

The Western Investment Company of Canada Limited is committed to investing in successful Western Canadian enterprises, helping drive growth in the region. With its shares traded on the TSX Venture Exchange under the symbol WI, the company aims to deliver value to its shareholders through strategic investments and management expertise.

Frequently Asked Questions

What is the purpose of the rights offering?

The rights offering aims to provide existing shareholders an opportunity to acquire additional shares at a discounted price, enhancing overall shareholder value.

What is the price per common share in the rights offering?

Each common share can be purchased for CDN $0.40 as part of the rights offering.

How long will the rights offering be available?

The rights offering will be available until the expiry time, which is set for 4:00 p.m. Calgary time on the specified expiry date.

Who can participate in the rights offering?

Only registered shareholders residing in eligible jurisdictions will receive rights to participate in the offering.

What will the proceeds from the rights offering be used for?

The proceeds from the offering are intended for general corporate purposes and to facilitate future acquisitions in the insurance sector.

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