Business
Westaim Announces Receipt of Required Regulatory Approvals in Connection with CC Capital Transaction
The Westaim Corporation (“ Westaim ” or the “Company ”) (TSXV...
About this update from Westaim Corporation
[{"type":"text","content":"Westaim Announces Receipt of Required Regulatory Approvals in Connection with CC Capital Transaction\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }\n \n\n\n\n The Westaim Corporation (“\n \n Westaim\n \n ” or the\n \n “Company\n \n ”) (TSXV: WED) is pleased to announce that, in connection with its previously announced proposed transaction with CC Capital Partners, LLC (the “\n \n Transaction\n \n ”), all regulatory approvals necessary to complete the Transaction under the terms of the investment agreement entered into between, among others, the Company and Wembley Group Partners, LP, have been obtained or validly waived. The Transaction is expected to close on or around April 2, 2025, subject to the satisfaction or waiver of other customary closing conditions. Completion of the Transaction is a key step in executing the Company’s previously announced strategy to build an integrated insurance and asset management platform.\n \n\n\n About Westaim\n \n\n\n Westaim is a U.S.-based investment company specializing in providing long-term capital to businesses operating primarily within the global financial services industry. The Company invests, directly and indirectly, through acquisitions, joint ventures and other arrangements, with the objective of providing stockholders with capital appreciation and real wealth preservation. Westaim’s strategy is to pursue investment opportunities with a focus towards the financial services industry and grow stockholder value over the long term. Westaim’s investments include significant interests in Arena and the Arena FINCOs, and Ceres Life Insurance Company. Arena and the Arena FINCOs are defined in the notes to Westaim’s annual consolidated financial statements for the fiscal year ended December 31, 2024 and 2023 and the related MD&A. The Company acquired its indirect interest in Ceres Life Insurance Company, a de novo annuity platform, in February 2025 in connection with the Transaction. The Company’s common stock is listed and posted for trading on the TSX Venture Exchange (the “\n \n TSXV\n \n ”) under the trading symbol “WED”.\n \n\n For more information, contact:\n \n J. Cameron MacDonald, President and Chief Executive Off...