Westaim Corp

TSXV:WEDCanadaView on OTC Pink - Current Information

Nov 18, 2024

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• The Westaim Corporation Announces Amendment to Investment Agreement, from 8:00AM ET on Monday Nov 18, 2024 by Dow Jones

  8:00AM ET on Monday Nov 18, 2024 by Dow Jones
  Companies Mentioned: WED
  
  The Westaim Corporation Announces Amendment to Investment Agreement
  TORONTO--(BUSINESS WIRE)--November 18, 2024--
  The Westaim Corporation ("Westaim" or the "Company") (TSXV: WED) announces that it has entered into an agreement (the "Amending Agreement") amending the investment agreement and certain exhibits thereto entered into on October 9, 2024 among the Company, Wembley Group Partners, LP (the "Investor"), an affiliate of CC Capital Partners, Arena Investors Group Holdings, LLC, Daniel Zwirn and Lawrence Cutler (the "Initial Agreement" and, as amended by the Amending Agreement, the "Investment Agreement"), pursuant to which, among other transactions, the Investor agreed to make a US$250 million strategic investment in the Company via a private placement offering (the "Private Placement") and, pursuant to a plan of arrangement under the Business Corporations Act (Alberta), the Company will complete a consolidation of its common shares (the "Common Shares") on the basis of one post-consolidation Common Share for every six pre-consolidation Common Shares (the "Share Consolidation") and change its jurisdiction of incorporation from the Province of Alberta in Canada to the State of Delaware in the United States of America (the "Redomiciliation").