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VANCOUVER, BC, Oct. 30, 2026 /CNW/ -- The Western Investment Company of Canada Limited (TSXV: WI) ("Western" or the "Company") announces that, in connection with its previously announced brokered private placement of common shares (the "Common Shares") at a price of $1.00 per Common Share for gross proceeds of $50,000,000 (the "Offering"), the Company has granted Desjardins Capital Markets and TD Securities Inc., joint lead agents and joint bookrunners on behalf of a syndicate of agents appointed in connection with the Offering (the "Agents"), an option to arrange for the purchase of up to an additional 7,500,000 Common Shares, representing 15% of the Common Shares offered under the base Offering (the "Agent's Option"). The Agent's Option will be exercisable at any point up until 48 hours prior to the closing date of the Offering.

If exercised in full, the Agent's Option will result in the issuance of an additional 7,500,000 Common Shares at a price of $1.00 per Common Share for additional gross proceeds of $7,500,000 and aggregate gross proceeds of the Offering up to $57,500,000, before deducting the Agents' commissions and other expenses of the Offering.

The Company further announces that it no longer intends to rely on the "part and parcel" exception set out in Section 1.7 of Policy 4.1 of the TSX Venture Exchange ("TSXV") in connection with the Offering, as previously disclosed in the Company's news release dated October 19, 2026. The Offering will instead proceed as a standard private placement under the policies of the TSXV, at an offering price of $1.00 per Common Share, which is above the minimum Discounted Market Price (as defined in the policies of the TSXV) of the Common Shares following the announcement of the acquisition of Canadian Farm and Stockmens. 

For clarity, closing of the Offering will not be conditional on completion of the acquisition of Canadian Farm and Stockmens announced on October 19, 2026 (the "Acquisition"). The Company continues to intend to use the net proceeds from the Offering to fund the Acquisition, with any excess proceeds to be used for general working capital purposes, however, in the event the Acquisition does not close the additional excess proceeds will be allocated to a reserve fund for future acquisitions and investments.

Except as disclosed in this news release, all other material terms of the Offering (including the fees payable to the Agents in connection with the Offering) remain the same.

The Offering, including any issuance pursuant to the Agent's Option, remains subject to the approval of the TSX Venture Exchange and other customary closing conditions.

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 TSX Venture Exchange under the symbol WI.

For more information on Western, please visit its website at www.westerninvest.ca.

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The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the securities of the Company 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 an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. Any securities offered and sold in the United States shall be issued as "restricted securities" as defined in Rule 144(a)(3) under the U.S. Securities Act. This news release will not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the 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 the words: 'believes', 'intends', 'expects', 'plans', 'seeks' and 'anticipates' and any 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: completion of the Offering, including the issuance of Common Shares pursuant to the exercise of the Agent's Option; the receipt of the required regulatory approvals, including the approval of the TSX Venture Exchange; completion of the Acquisition; 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 (i) concerning the ability of Western to successfully implement its strategic plans and initiatives and general market and economic conditions (ii) that the required regulatory approvals will be obtained, (iii) that the applicable closing conditions will be satisfied or waived, (iv) that investors may not subscribe, and (v) that the Acquisition may not be completed (or may not be completed on the terms presently contemplated).

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 Offering may not be completed on the anticipated terms or within the anticipated timeframe, or at all; the risk that the Company may not obtain all required regulatory approvals; and the risk that the Company may not be able to use the proceeds of the Offering as anticipated and the risk that the Acquisition may not be completed on the anticipated terms or within the anticipated timeframe, or at all. 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 Western Investment Company of Canada Limited