Askeladden Capital Q4 2016 Investor Letter

After retaining new legal counsel at the management company level, we decided to rely on Rule 506(c) of Regulation D, rather than Rule 506(b), which allows us to publicly distribute our investor letters.  Below is our year-end letter published on 12/31/2016 that has been modified only to include a more thorough disclaimer than was originally included when it was not intended for a broad audience.

More information can be found at our newly-updated website, askeladdencapital.com .

- Samir