February 22, 2017 09:13 ET
CALGARY, ALBERTA--(Marketwired - Feb. 22, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
The Western Investment Company of Canada Limited ("Western" or the "Corporation") (TSX VENTURE:WI) is pleased to announce that it has closed its previously announced bought deal financing (the "Offering"). The underwriters were GMP Securities L.P. and Acumen Capital Finance Partners Limited (collectively, the "Underwriters"). The Underwriters provided notice to the Corporation that they exercised their over-allotment option. Pursuant to the Offering and the over-allotment option, the Corporation has issued a total of 19,107,250 common shares of the Corporation (the "Common Shares"). The Common Shares were issued at a price of $0.65 per share, for aggregate gross proceeds of $12,419,713 (net proceeds of $11,667,761.27 after Underwriters' commission and expenses).
About Western (www.winv.ca)
Western's strategy is to create a diversified portfolio of established Western Canadian businesses and create value through the identification and long-term ownership of companies with sustained cash flows and strong potential for organic growth.
The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
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.
The Western Investment Company of Canada LimitedScott TannasPresident and Chief Executive Officer(403) email@example.com
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