The Westaim Corporation Announces Normal Course Issuer Bid

Executive Summary

• Westaim Corp. announced the TSX Venture Exchange has accepted its notice to commence a new normal‑course issuer bid (NCIB) for up to 1,892,373 common shares (≈10% of the public float).
• The company entered into an Automatic Share Purchase Plan (ASPP) with TD Securities to facilitate purchases during blackout periods and regulatory limits.
• The prior NCIB that began on April 1 2025 is being terminated early after purchasing 336,564 shares, allowing the new bid to start at the beginning of calendar year 2026.

Key Details

• NCIB Scope: Up to 1,892,373 shares may be purchased between Jan 1 2026 and Dec 31 2026 (or earlier if completed/terminated).
• Float Context: As of Dec 16 2025, Westaim had 33,351,404 shares issued and outstanding; the new NCIB targets ≈10% of that float.
• Purchase Limits: No more than 2% of outstanding shares (≈667,028 shares) may be bought in any 30‑day period under TSXV rules.
• Terminated NCIB: Previously purchased 336,564 shares; terminated early to align future bids with calendar years.
• Initial Purchase Cap: In the first three months of the new NCIB, purchases cannot exceed 1,504,090 shares.
• ASPP Arrangement: TD Securities will execute purchases on Westaim’s behalf during blackout periods or when direct purchases are restricted; the ASPP has been pre‑cleared by the TSXV.
• Use of Shares: All repurchased shares will be cancelled or held as treasury shares, reducing float and potentially enhancing remaining shareholders’ equity interest.
• Board Rationale: Management believes current market prices undervalue the shares and that repurchases constitute a desirable use of corporate funds, benefiting all shareholders.

Notable Quotes

(No direct quotes were provided in the release.)