Wilmington Seeks to Monetize Marinas Investment

CALGARY, Alberta, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Wilmington Capital Management Inc. (“Wilmington” or the “Corporation”) is pleased to announce that its Board of Directors has determined that the embedded value of Wilmington’s marinas investment, including Maple Leaf Marinas Limited Partnership (“MLM”), has been substantially realized. As a result, the Corporation will seek to effect a sale of its approximate 17.32% interest therein (along with its corresponding general partner interest) in accordance with the MLM limited partnership agreement. Subject to applicable laws and after giving consideration to its ongoing liquidity needs, the Corporation anticipates that it will effect a distribution to its shareholders out of proceeds received in connection with any such sale.

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