Mr. Scott Tannas reports

WESTERN INVESTMENT COMPANY ANNOUNCES DECLARATION OF ANNUAL DIVIDEND

The Western Investment Company of Canada Ltd.'s board of directors has declared a dividend of 0.5 cent per share on WICC's outstanding common shares as part of Western's annual dividend program. The dividend will be payable on Sept. 29, 2023, to shareholders of record at the close of business on Sept. 15, 2023. This dividend equates to an annual yield of 1.32 per cent based on the closing price of the common shares earlier today. The dividend will be designated as eligible under the Income Tax Act (Canada).

About The Western Investment Company of Canada Ltd.

Western is a unique publicly traded, private equity company founded by a group of successful Western Canadian businesspeople, and dedicated to building and maintaining ownership in successful Western Canadian companies, and helping them to grow. Western's shares are traded on the TSX Venture Exchange under the symbol WI.

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