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The Westaim Corporation Reports Q1 2025 Results
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About this update from Westaim Corporation
[{"type":"text","content":"The Westaim Corporation Reports Q1 2025 Results\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl2 { padding-left: 10px }\n.bwpadl4 { padding-left: 20px }\n.bwpadr0 { padding-right: 0px }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth11 { width: 11% }\n.bwwidth12 { width: 12% }\n.bwwidth2 { width: 2% }\n.bwwidth61 { width: 61% }\n.bwwidth70 { width: 70% }\n \n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR\n \n\n DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.\n \n\n\n Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted. The financial results are reported under International Financial Reporting Standards (“IFRS”), except as otherwise noted.\n \n\n\n\n The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced its unaudited interim financial results for the quarter ended March 31, 2025. Westaim recorded a net loss of $7.4 million ($0.34 diluted loss per share) for Q1 2025 compared to a net profit of $23.3 million ($1.02 diluted earnings per share) for Q1 2024.\n \n\n At March 31, 2025, Westaim’s consolidated shareholders’ equity was $490.0 million and the Company had 21,706,501 common shares (“Common Shares”) outstanding. Book value per fully diluted share\n \n 1\n \n was $22.56 (C$32.43) at March 31, 2025, compared to $22.88 (C$32.90) at December 31, 2024.\n \n\n\n\n Key Results\n \n\n\n\n\n Salem Group\n \n\n\n On February 4, 2025 (the “MAIC Closing Date”), the Company completed its acquisition of ManhattanLife of America Insurance Company (“MAIC”). The Company invested $36.5 million into Salem Group Partners, LP (“S...