Western Investment Company 2019 Net Income up 11% to $1.25 million

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High River, Alberta–(Newsfile Corp. – May 12, 2020) – The Western Investment Company of Canada Limited (TSXV: WI) (“WICC” or “Western”) announces that today it filed its financial statements and MD&A on SEDAR for the year ended December 31, 2019. Western reported net income of $1,252,643 for 2019, up from $1,131,531 the year before.

WICC CEO Scott Tannas provided the following comments:
“A large portion of our earnings came from investment gains in the year, which offset a drop in operating earnings. While investment gains are helpful in the short term, our focus remains on profitably growing our businesses in the long run. So, while we are pleased to have grown our net income over the past year, I can assure shareholders we are very focused on navigating through these uncertain times and getting on with growing your company.”

About The Western Investment Company of Canada Limited

WICC is a unique publicly traded, private equity company founded by a group of successful Western Canadian businesspeople, and dedicated to building and maintaining ownership in successful Western Canadian companies, and helping them to grow. Western’s shares are traded on the TSX Venture Exchange under the symbol WI.

For more information on Western, 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 returns. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55767