Western Investment Company of Canada Announces Submission of the Filing Statement in Connection with the Acquisition of GlassMasters

CALGARY, ALBERTA--(Marketwired - Dec. 9, 2016) - The Western Investment Company of Canada Limited ("Western") (TSX VENTURE:WI.P), further to its press release issued on December 1, 2016, is pleased to announce that Western has prepared and filed on SEDAR a filing statement (the "Filing Statement"), which provides further details regarding the definitive agreement executed with GlassMasters Autoglass Ltd. and ARG Wholesale Ltd. (collectively "GlassMasters") and the business of GlassMasters acquired indirectly by Western (the "Qualifying Transaction").

The Filing Statement may be viewed at Western's profile on SEDAR at www.sedar.com.

Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, receipt of all applicable consents to and approvals of the Qualifying Transaction including approval of the Exchange. The Qualifying Transaction cannot close until the required approvals and exemptions are obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in securities of a capital pool company should be considered highly speculative.

The Exchange has in no way passed upon the merits of the Qualifying Transaction and has neither approved nor disapproved the contents of this press release.

Advisory

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Qualifying Transaction including Western's ability to obtain financing and the necessary approvals, including regulatory approvals. 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.