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by Stockwatch Business Reporter

The TSX Venture Exchange rose 9.83 points to 749.37 Friday, ending the week up 14.79 points. Scott Tannas's halted capital pool shell, The Western Investment Company of Canada Ltd. (WI), has released the terms of its qualifying transaction, which is the acquisition of a 50.1-per-cent interest in two companies: GlassMasters Autoglass Ltd. and ARG Wholesale Ltd. GlassMasters is a windshield repair and replacement company with seven branches in Alberta. ARG Wholesale is an auto glass distributor based in Calgary. Both companies are owned by husband and wife Miles and Karyn Palmer. To acquire the 50.1-per-cent interest, the shell will pay $12.81-million, of which $4.01-million will be covered by cash on hand. On Sept. 30, 2016, Western Investment had working capital of $4.25-million. To finance the rest, the shell has arranged a $7.5-million seven-year debt to Toronto-Dominion Bank (TD: $63.32) and a $1.3-million debt to corporate lender First West Capital.

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