In This Article:
High River, Alberta--(Newsfile Corp. - April 28, 2020) - The Western Investment Company of Canada Limited (TSXV: WI) ("WICC" or "Western") announces that due to circumstances created by the COVID-19 pandemic, it is relying on the exemption provided in Alberta Instrument 51-517 - Temporary Exemption from Certain Corporate Finance Requirements (the "Alberta Instrument") of the Alberta Securities Commission (and similar exemptions provided by the securities commissions in other Canadian jurisdictions) to postpone the filing of the following continuous disclosure documents (collectively the "Documents"):
-
Western's Annual Audited Financial Statements for the twelve-month period ended December 31, 2019 as required by section 4.2 of National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102");
-
Western's Management Discussion & Analysis for the twelve-month period ended December 31, 2019 as required by section 5.1(2) of NI 51-102; and
-
Western's Annual Information Form.
In accordance with the Alberta Instrument, during the period from March 23, 2020 to June 1, 2020, a person or company required to make certain filings as described in the Alberta Instrument has an additional 45 days from the deadline otherwise applicable under Alberta securities laws to make the filing. Until Western has filed the required Documents, members of Western's management and other insiders are subject to a trading blackout reflecting the principles contained in section 9 of National Policy 11-207 - Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.
Western expects to file the Documents on or prior to May 15, 2020.
Since the date the last interim financial statements and associated management's discussion and analysis were filed with respect to the interim period ending September 30, 2019, Western has disclosed by way of news releases the following significant business developments, which are available under Western's SEDAR profile at www.sedar.com:
-
On January 6, 2020, Western announced that it purchased an additional 11.25% of GlassMasters ARG Autoglass Two Inc. from a company controlled by its founder and former CEO, Miles Palmer;
-
On January 13, 2020, Western announced that it obtained regulatory approval to proceed with a normal course issuer bid whereby Western may purchase up to a total of 1,500,000 common shares in the capital of Western representing approximately 4.9% of the Common Shares then issued and outstanding; and
-
On April 14, 2020, Western provided an update to shareholders on the effect of the COVID-19 crisis on Western and its investee companies.