CALGARY, Dec. 2 /CNW/ - The Westaim Corporation announced today that its
subsidiary NUCRYST Pharmaceuticals Corp. ("NUCRYST") has filed a registration
statement with the U.S. Securities and Exchange Commission and a preliminary
prospectus with each of the Canadian provincial securities regulatory
authorities (other than Quebec) relating to the proposed initial public
offering of NUCRYST's common shares. All of the shares to be sold in the
offering will be newly issued shares sold by NUCRYST with Westaim retaining a
controlling interest in NUCRYST.
The shares will be offered by an underwriting syndicate led by Jefferies
& Company, Inc. and co-managed by Adams Harkness, Inc., GMP Securities L.P.,
and SunTrust Capital Markets, Inc.
A registration statement relating to these securities has been filed with
the U.S. Securities and Exchange Commission but has not yet become effective.
A preliminary prospectus relating to these securities has been filed with each
of the Canadian provincial securities regulatory authorities (other than
Quebec). These securities may not be sold nor may offers to buy be accepted in
the United States, prior to the time the registration statement becomes
effective and in any province of Canada, prior to the time that a receipt for
a final prospectus is obtained from the securities commission or similar
authority in such province. This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor will there be any sale of
these securities in any state, province or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state, province or
jurisdiction. The offering will be made only by means of a prospectus.
When available, copies of the preliminary prospectus relating to these
securities may be obtained in the United States from Jefferies & Company by
fax request at (212) 284-2208 and in Canada from GMP Securities L.P. by fax
request at (416) 943-6133. When available, copies of the preliminary
prospectus relating to these securities may also be obtained by mail request
at the following addresses:
Jefferies & Company, Inc.
520 Madison Avenue
12th Floor
New York, NY
10022
GMP Securities L.P.
Attn: Syndication Department
145 King St., West, Suite 1100
Toronto, Ontario
M5H 1J8
NUCRYST Pharmaceuticals develops, manufactures and commercializes medical
products that fight infection and inflammation based on its nanocrystalline
silver technology. Advanced wound care products with the company's
SILCRYST(TM) coatings are sold by Smith & Nephew plc under an exclusive
license in over 30 countries under its Acticoat(TM) trademark. NUCRYST is also
developing pharmaceutical products to address medical conditions that are
characterized by both infection and inflammation. The company has developed
its nanocrystalline silver in a powder form for use as an active
pharmaceutical ingredient, referred to as NPI 32101.
The Westaim Corporation's technology investments include: NUCRYST
Pharmaceuticals and iFire Technology, which has developed a low-cost flat
panel display. Westaim's common shares are listed on NASDAQ under the symbol
WEDX and on The Toronto Stock Exchange under the trading symbol WED.
Acticoat(TM) is a trademark of Smith & Nephew plc
SILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp.
%SEDAR: 00002793E
