High River, Alberta – The Western Investment Company of Canada Limited (“WICC” or “Western”) (TSXV:WI) confirmed today it will include a new segment in its year-end MD&A that will provide estimates of the market value of each of the companies in its investment portfolio. These estimates will be reviewed and updated annually or earlier if material considerations arise.
WICC CEO Scott Tannas commented:
“A substantial increase in the value of our ownership position was recently demonstrated in the GlassMasters transaction announced in February. This unrecorded gain highlights the need for investors to better understand the market value of the holdings we have in all our companies beyond their carrying value for accounting purposes. We are working to prepare a segment in our MD&A that provides an estimate of the market value of each of our holdings and a transparent explanation of the methodology used to arrive at the values. We are working with advisors to assist us in establishing the initial model and calculations and plan to update the disclosure on a regular basis. As a publicly-traded private equity company, we need to respond to the unique challenge of holding long-term assets while having our stock traded in real-time. We expect this additional information will provide shareholders and potential investors with better insight into the underlying per-share value of Western Investment Company.”
Western plans to release its December 31, 2021, financial statements and MD&A in the latter half of April.
About The Western Investment Company of Canada
Western is a unique publicly traded, private equity company founded by a group of successful Western Canadian business people, 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.
The Western Investment Company of Canada Limited
President and Chief Executive Officer
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