Executives acquire Westaim Shares from AIMCo

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[{"type":"text","content":"\n\n\nTORONTO, Aug. 16, 2013 /CNW/ - Messrs. Ian W. Delaney, J. Cameron\n MacDonald and Robert. T. Kittel (the \"Executives\") announce that they\n have directly or indirectly acquired an aggregate of 307,800,000 common\n shares (\"Shares\") of The Westaim Corporation (\"Westaim\") from 1523488\n Alberta Ltd. (\"Holdco\") and Her Majesty the Queen in Right of the\n Province of Alberta (\"HMQ\").  The investment portfolios of Holdco and\n HMQ are managed by the Alberta Investment Management Corporation\n (\"AIMCo\").  The Shares acquired by the Executives represent\n approximately 44.3% of the total number of issued and outstanding\n Shares and were acquired at a price of $0.03 per Share.\n\n\nMr. Delaney, a director and Chairman of the Board of Westaim, directly\n acquired an aggregate of 162,800,000 Shares from Holdco.  Prior to this\n acquisition, Mr. Delaney beneficially owned or exercised control or\n direction over a total of 16,642,866 Shares and had options to acquire\n an additional 300,000 Shares.  Accordingly, following the acquisition,\n Mr. Delaney beneficially owns or exercises control or direction over a\n total of 179,442,866 Shares and has options to acquire an additional\n 300,000 Shares.  Assuming the exercise in full of the options, Mr.\n Delaney will beneficially own or exercise control or direction over a\n total of 179,742,866 Shares, representing approximately 25.84% of the\n total number of issued and outstanding Shares (following the exercise\n of the options).\n\n\nMr. MacDonald, President, Chief Executive Officer and a director of\n Westaim, indirectly acquired direction and control over an aggregate of\n 120,000,000 Shares from Holdco.  Prior to this acquisition, Mr.\n MacDonald, together with one or more joint actors, beneficially owned\n or exercised control or direction over a total of 17,844,996 Shares. \n Accordingly, following the acquisition, Mr. MacDonald, together with\n one or more joint actors, beneficially owns or exercises control or\n direction over a total of 137,844,996 Shares representing approximately\n 19.83% of the total number of issued and outstanding Shares (assuming\n no exercise of the options held by Mr. Delaney).\n\n\nMr. Kittel, Chief Operating Officer of Westaim, indirectly acquired\n direction and control over an aggregate of 23,200,000 ...

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