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Westaim completes private placement of subscription receipts for approximately C$135 million

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Overview

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Confidential Clients

On April 23, 2014, The Westaim Corporation (Westaim) announced that it has completed the sale of an aggregate of 50,995,385 subscription receipts for gross proceeds of approximately C$135 million. An aggregate of 47,180,380 Subscription Receipts were sold pursuant to an underwriting agreement between Westaim, Westaim HIIG Limited Partnership (the “Partnership”), GMP Securities L.P. and TD Securities Inc. (the “Joint Bookrunners”) and Cormark Securities Inc. (together with the Joint Bookrunners, the “Underwriters”). An additional 3,815,005 Subscription Receipts were sold pursuant to a concurrent non-brokered private placement of Subscription Receipts. Westaim is a publicly traded Canadian-based investment company that invests directly and indirectly through acquisitions, joint ventures and other arrangements, with the objective of providing its shareholders with capital appreciation and real wealth preservation. Fasken Martineau advised the underwriters with a team led by Robert McDowell and Richard Steinberg and including Rosalind Cooper, Marvin Mikhail, Susan Newell and Arun Krishnamurti.

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