The Western Investment Company of Canada Ltd (TSE:WI) has released an update.
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The Western Investment Company of Canada Limited is set to become an insurance and investment holding entity, with at least $20 million pledged by affiliates of Paul Rivett for its transformation. This strategic shift aims to grow their insurance subsidiary, Fortress, to $100 million in annual premiums by 2028, and manage existing non-insurance investments for long-term returns. Additionally, Western plans a Rights Offering post-transaction to prevent shareholder dilution, with specific terms outlined for Canadian residents.
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