The Western Investment Company Of Canada Limited (TSXV:WI) signed a non-binding letter of intent to acquire a 75% stake in Ocean Sales Group Ltd. for CAD 9.5 million on September 21, 2017. As a part of the transaction, The Western Investment Company Of Canada is contributing CAD 3.6 million in cash, and the current owner/managers retaining CAD 1.15 million with the balance in term debt provided by a Canadian financial institution. The transaction is subject to the approvals from the board of directors of Western, the completion of due diligence, entering into a mutually acceptable purchase and sale agreement, and regulatory approvals including the approval of TSX Venture Exchange. As of September 22, 2017, the transaction is expected to close on November 30, 2017. As of November 27, 2017, the transaction is expected to close on January 1, 2018. As of December 21, 2017, the transaction is expected to close in early January 2018. The Western Investment Company Of Canada Limited (TSXV:WI) completed the acquisition of Ocean Sales Group Ltd. for CAD 9.5 million on January 1, 2018. The transaction was funded by equity and a CAD 5.1 million fixed term loan.