Westaim Corporation has announced that all necessary regulatory approvals have been obtained or waived for its proposed transaction with CC Capital Partners, LLC, which is expected to close around April 2, 2025.
The Toronto-based investment company, which trades on the TSX Venture Exchange under the symbol "WED," confirmed that the transaction is now subject only 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," Westaim stated in its announcement.
Westaim operates as a US-based investment company specializing in providing long-term capital to businesses within the global financial services industry. The company's investment portfolio includes interests in Arena and the Arena FINCOs, as well as Ceres Life Insurance Company, which it acquired in February 2025 in connection with the transaction.
The company emphasized that its investment strategy focuses on the financial services industry to provide stockholders with capital appreciation and real wealth preservation.
The announcement includes cautionary notes regarding forward-looking statements, detailing various risks that could affect the completion of the transaction.
These include potential governmental authority prohibitions, delays in approvals, termination of the investment agreement, management disruption, and possible legal proceedings.
J. Cameron MacDonald, president and chief executive officer, and Robert T. Kittel were listed as contacts for further information about the announcement.
Westaim's common stock is listed on the TSX Venture Exchange under the trading symbol "WED."
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