Data from Don Maris. Publisher & date information not found on copy of what is called by the Overstreet Comic Book Price Guide as Version 3 (Captain Valor version) of "Weekly Comic Magazine". See http://www.comics.org/series/11122/ for that series, which contains material from Fox Publications in two issues that Overstreet refers to a Version 1 and Version 2. Note that the date here is copied from those versions, and there is no clear indication that this version was actually intended for the same date. The similarities extend only as far as the general format and some aspects of the title and trade dress.
This version was distributed through Rogers Jewelry Stores in New England region, and contains reprint from an MLJ (Archie) series. Cover contains mostly ad information for Rogers Jewelry Stores.
Per Frank Motler, there is a small number 3 at the bottom of the back cover from which the issue number is taken.