SOURCE: The Western Investment Company of Canada Limited

August 10, 2016 12:58 ET

The Western Investment Company of Canada Limited (WIP on TSXV) Announces Second Quarter Filing on Sedar

HIGH RIVER, AB--(Marketwired - August 10, 2016) -

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The Western Investment Company of Canada Limited ("The Company") (TSX VENTURE: WIP) today announced that its Financial Statements and MD&A for the six months ended June 30, 2016 have been filed on SEDAR.

Company Director and Chief Executive Officer Scott Tannas made the following comments:

"Our results reflect modest ongoing administrative costs, plus a small additional amount for consulting expenses from experts in relation to assessments of a potential acquisition.

We are making progress toward identifying and negotiating our first acquisition. We look forward to reporting progress in the coming months."

SUMMARY OF QUARTERLY RESULTS
The financial results of the Corporation for the quarter ended June 30, 2016 are summarized as follows:

 
in Canadian $ thousands except for per share amounts
Three Months Ended
June 30, 2016
Three Months ended
March 31, 2016
Period from October 28 to December 31, 2015
Total Revenue $0 $0 $0
Operating Expenses $106.4 $655.6 $34.9
Net Income (Loss) ($106.4) ($655.6) ($34.9)
Earnings (Loss) per Share -Basic ($0.01) ($0.06) ($0.02)
Earnings (Loss) per Share - Diluted ($0.01) ($0.06) ($0.02)
       
Total Assets $4,366.1 $4,407.8 $476.9
Total Long Term Liabilities $0 $0 n/a

Certain statements contained in this document constitute "forward-looking information". When used in this document, the words "may", "would", "could", "will", "intend", "plan", "propose", "anticipate", "believe", used by any of the Corporation's management, are intended to identify forward-looking information. Such statements reflect the Corporation's forecasts, estimates and expectations, as they relate to the Corporation's current views based on their experience and expertise with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Corporation's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Corporation does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments unless required by law.

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