Western Investment Company Of Canada Announces Closing Of Its Strategic Partnership With Golden Health Care Inc.
CALGARY, Alberta, Sept. 05, 2017 (GLOBE NEWSWIRE) — The Western Investment Company of Canada Limited (“Western”) (TSX Venture:WI), further to its press release issued on August 9, 2017, confirms it has closed its 30% equity investment in three senior care homes in Saskatchewan from Golden Health Care Inc. (“Golden Health Care”) and certain other shareholders. In addition, Western owns a 25% equity ownership in Golden Health Care Management Inc. which will provide management services to a portfolio of seven retirement communities in Saskatchewan and an option to purchase 30% equity interest in undeveloped land in Yorkton, Saskatchewan for a multi-stage housing development for seniors.
The total value of the transaction is $5 million payable in cash at closing and is subject to typical post-closing adjustments.
About Golden Health Care Inc.
Golden Health Care was founded in 2003 and now operates a total of 457 beds in seven communities in Saskatchewan. For more information visit www.goldenhealthcare.ca
About Western (www.winv.ca)
Western’s strategy is to create a diversified portfolio of established Western Canadian businesses and create value through the identification and long-term ownership of companies with sustained cash flows and strong potential for organic growth.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
The Western Investment Company of Canada Limited
President and Chief Executive Officer