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To: Goose94 who wrote (2512)9/25/2013 4:49:40 PM
From: Goose94Read Replies (1) | Respond to of 202936
 
Westaim (WED-V) to roll back shares 1 for 50 Oct. 1 Message 28586044

Sept 25, 2013 - News Release

The Westaim Corp. intends to effect a consolidation of its common shares on the basis of one new common share for every 50 common shares outstanding, effective as of Oct. 1, 2013. The TSX Venture Exchange has advised that the common shares will commence trading on a consolidated basis, effective at the opening of trading on Oct. 1, 2013.Westaim currently has 695,209,537 common shares outstanding and, following the share consolidation on a one-to-50 basis, will have approximately 13,904,190 common shares outstanding. No fractional common shares will be issued, and no cash will be paid in lieu of fractional postconsolidation common shares, but the number of common shares to be received by a shareholder will be rounded down to the nearest whole common share in the event that such shareholder would otherwise be entitled to receive a fractional common share.

A letter of transmittal will be sent by mail to shareholders advising that the share consolidation has taken effect and instructing shareholders to surrender the certificates evidencing their common shares for replacement certificates representing the number of common shares to which they are entitled as a result of the consolidation. Until surrendered, each certificate will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the consolidation.

The share consolidation was approved by the shareholders of Westaim at the annual and special meeting held on May 15, 2013. Further details regarding the share consolidation are contained in the company's information circular dated April 8, 2013, which has been filed under the company's profile on SEDAR.

We seek Safe Harbor.