Canadian Underwriter

Western Financial adds brokerage, completes share placement

January 28, 2004   by Canadian Underwriter

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Alberta-based broker network and bank, Western Financial Group Inc. (TSX: WES) has added to its string of recent acquisitions with the purchase of Meston’s Agencies of Okotoks, Alberta. The new brokerage will be combined with Western’s existing operations in that community.
Also, the company announces completion of a private placement for gross proceeds of almost $4.5 million. The transaction involved the issuance of 1.8 million units at $2.47 each each unit contains one common share and one-half of a purchase warrant for an additional common share in the company.
Western Financial says it expects to announce further acquisitions in coming weeks.

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