Western Investment Bolsters Insurance Holdings

The Western Investment Company of Canada Ltd (TSE:WI) has released an update.

Western Investment Company of Canada Ltd has advanced in its strategy to become an insurance-focused holding company by acquiring a significant tranche of Fortress Insurance shares, increasing its ownership to 83.57%. The transaction involved issuing over 25 million of its own shares to Fortress shareholders who opted for equity over cash, signaling confidence in Western’s new direction. The company is set to complete the acquisition with a final tranche later in the year, pending final TSX Venture Exchange approval.

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