The Total Shares Held or Secured Through Purchase Agreements Now Represents 59% of the Shares Outstanding in Fortress Insurance and Exceeds the 51% Minimum Required to Complete the Transaction
“Securing sufficient shares in Fortress was a key condition of our proposed transaction with Paul Rivett to transform Western into an insurance and investment holding company, so this is a very important step in moving the Transaction forward,” said Scott Tannas, President and Chief Executive Officer of Western.
The TSXV has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release. 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.