Westaim provides update regarding TSX Venture listing

TORONTO, Nov. 16, 2012 /CNW/ - Further to its press release dated September 11, 2012, The Westaim Corporation ("Westaim" or the "Company") wishes to provide an update on the current status of its voluntary de-listing from the Toronto Stock Exchange ("TSX") and application to list for trading its common shares on the TSX Venture Exchange ("TSX-V").

The Company advises that it has submitted its listing application to the TSX-V and has been in discussions with staff of the TSX-V regarding its application.  The Company is hopeful that it will receive approval of the TSX-V within the next 30 days, but expects that its common shares will continue to be listed on the TSX until such approval is received.

About The Westaim Corporation

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.  Westaim's strategy is to pursue investment opportunities to grow shareholder value (as measured by book value per share) over the long term.  Further information can be found in the disclosure documents filed by the Company with the securities regulatory authorities, available at www.sedar.com.

Certain portions of this press release as well as other public statements by Westaim contain forward-looking statements. Such forward-looking statements include but are not limited to statements concerning the proposed listing on the TSX-V and timing of de-listing from the TSX. These statements are based on current expectations that are subject to risks, uncertainties and assumptions and Westaim can give no assurance that these expectations are correct. Westaim's actual results could differ materially from those anticipated by forward-looking statements for various reasons generally beyond our control, including but not limited to: (i) the inability to obtain final listing approval from the TSX-V; (ii) changes in market conditions; (iii) general economic, market, financing, regulatory and industry developments and conditions; (iv) other risk factors set forth in Westaim's Annual Report, Quarterly Reports or Annual Information Form. Westaim disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise except as required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

SOURCE: Westaim Corporation

Jeff Sarfin, Chief Financial Officer
The Westaim Corporation
[email protected]
416-203-2253