Value Gain Highlighted in GlassMasters Transaction Prompts Western Investment Company to Provide Net Asset Value Estimates on all Investments in Upcoming Year-End Statements

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.

Contact Information

The Western Investment Company of Canada Limited
Scott Tannas
President and Chief Executive Officer

(403) 652-2663
stannas@winv.ca

Advisory

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to future plans, acquisitions, financings and earnings. 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.

 

Share :