Western Raises Gross Proceeds of Over $55.8 Million on Closing of Previously Announced Private Placement
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TORONTO, ON / ACCESS Newswire / November 3, 2026 / The Western Investment Company of Canada Limited (TSXV:WI) (“Western” or the “Company“) announces today the closing of its previously announced brokered private placement (the “Offering“) of common shares (the “Common Shares“) made through a syndicate of agents led by Desjardins Capital Markets and TD Securities Inc. (the “Agents“). A total of 55,865,500 Common Shares were issued at a price of $1.00 per Common Share pursuant to the Offering for total gross proceeds of $55,865,500, which includes gross proceeds from the partial exercise of the agent’s option.
Net proceeds from the Offering are expected to fund the previously announced acquisition of Canadian Farm and Stockmens, general working capital purposes and future acquisitions and investments. The Common Shares were offered on a private placement basis pursuant to exemptions from prospectus or registration requirements under applicable securities laws and are subject to a statutory hold period expiring on March 4, 2027.
Four insiders of the Company acquired a total of 2,425,000 Common Shares for gross proceeds of $2,425,000. Each insider’s participation constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The related party transactions are exempt from the valuation and minority shareholder approval requirements of MI 61-101 pursuant to the exemptions in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the consideration for the securities of the Company to be issued to the related parties does not exceed 25% of its market capitalization. The Offering was approved by the Company’s board of directors, with participating insiders declaring their interests and recusing themselves from deliberations and voting on its approval. The Company did not file a material change report 21 days prior to closing because the details of insider participation were not settled until shortly before closing.
The Offering remains subject to the final approval of the TSX Venture Exchange (“TSXV“).
In connection with the Offering, the Company paid a cash commission of $1,839,300 to Desjardins Capital Markets and TD Securities Inc., as joint lead agents and joint bookrunners on behalf of the Agents.
About The Western Investment Company of Canada Limited
Western is an insurance and investments holding company focused on decentralized ownership of insurance businesses and centralized investment management. Western’s shares are traded on the TSXV under the symbol WI.
For more information on Western, please visit its website at www.westerninvest.ca.
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CONTACT INFORMATION – The Western Investment Company of Canada Limited
Pablo Dancuart, Chief Financial Officer, pdancuart@westerninvest.ca; 604 349 5115
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward-looking Disclaimer
This news release may contain certain forward-looking information and statements, including, without limitation, statements pertaining to future results and plans for Western and its associated companies, acquisitions, financings and returns. Statements containing words such as ‘believes’, ‘intends’, ‘expects’, ‘plans’, ‘seeks’ and ‘anticipates’, or other words of similar meaning, are forward-looking. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Specifically, forward-looking information in this news release includes, among other things, statements regarding: the receipt of final approval from the TSXV; the completion of the acquisition of Canadian Farm and Stockmens; the Company’s plans to complete future acquisitions and investments; and the anticipated use of the net proceeds of the Offering.
The forward-looking statements are based on certain key expectations and assumptions made by Western, including expectations and assumptions regarding (i) the receipt of final approval from the TSXV, (ii) the completion of the acquisition of Canadian Farm and Stockmens on the terms presently contemplated, or at all, (iii) Western’s ability to successfully implement its strategic plans and initiatives, and (iv) general market and economic conditions.
Although Western believes that the expectations and assumptions on which the forward-looking statements made by Western are based are reasonable, undue reliance should not be placed on the forward-looking statements because no assurance can be provided that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risk that the Company may not obtain the final approval of the TSXV; the risk that the Company may not be able to use the proceeds of the Offering as anticipated; and the risk that the acquisition of Canadian Farm and Stockmens may not be completed. A description of additional 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.sedarplus.ca.
The forward-looking statements contained in this news release are made as of the date hereof and Western undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
“Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.“
SOURCE: The Western Investment Company of Canada Limited
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