Calgary, Alberta – April 6, 2016. The Western Investment Company of Canada Limited (the “Corporation”) (TSX Venture: WI.P) announces that, subject to regulatory approval, Dr. Kabir Jivraj has been appointed to the board of directors of the Corporation effective as of April 6, 2016.
Dr. Jivraj serves as the Managing Director at AgeCare Ltd. Dr. Jivraj was the President of the Alberta Medical Association from September 1996 to September 1997. Dr. Jivraj has been a Clinical Professor at the University of Calgary, Faculty of Medicine since 2001. He has taught undergraduate and graduate students since 1988. He received the Associations Medal of Distinguished Service in May 2000 and was honoured in 2005 as one of the 100 Alberta Physicians of the Century by the Alberta Medical Association and the College of Physicians and Surgeons of Alberta. He is a Fellow of the Royal College of Physicians of Canada from the Royal Course of Physicians & Surgeons of Canada completed in 1985 and Institute of Corporate Directors with the ICD.D Corporate Governance College completed in 2006. Dr. Jivraj obtained his Bachelor of Medical and Surgery degree from the London University, UK, in 1981.
Dr. Jivraj served as Senior Vice-President and Chief Medical Officer at Alberta Health Services – Calgary Health Region from 1999 to 2002. He also served as the Vice Dean of the University of Calgary, Faculty of Medicine from 2000 to 2002. Dr. Jivraj served as a Trustee of Northern Property Reit (TSX) from May 2006 to August 2011. He served as a Director of O2 Capital Inc. (TSXV) from February 2008 to May 2011, predecessor of Xianburg Data Systems Canada Corporation.
The Corporation also announces that it has granted 140,000 stock options to purchase common shares of the Corporation to the Corporation’s new director subject to regulatory and TSX Venture Exchange approval. The stock options were issued with an exercise price of $0.56 per share, vest immediately and have a ten year term.
ABOUT THE CORPORATION
The Corporation is a capital pool company (a “CPC”) that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the TSX Venture Exchange Inc.’s CPC policy, until the completion of its qualifying transaction, the Corporation will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.
For further information, please contact:
President and Chief Executive Officer
The Western Investment Company of Canada Limited
Telephone: (403) 652-2663
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 news release.
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Corporation’s ability to obtain regulatory approvals from the TSX Venture Exchange Inc. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. 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 the Corporation’s disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.