Westaim appoints two new directors

Saturday, December 20, 2008 General News J E 4
CALGARY, Dec. 19 /PRNewswire-FirstCall/ - Ian W. Delaney, Chairman of The Westaim Corporation announced today that Peter H. Puccetti and J. Cameron MacDonald have been appointed to The Westaim Corporation's Board of Directors.

"The Westaim Board of Directors is pleased to welcome Mr. Puccetti and Mr. MacDonald," said Ian W. Delaney. "Both are highly skilled investment professionals and will add to the bench strength of the Company's board as we advance our business strategy and pursue new investment opportunities in an effort to grow the value of the Company."

Mr. Puccetti is the Chairman of Goodwood Inc. and founder and current Chief Investment Officer of the Goodwood Funds. Prior to Goodwood, Mr. Puccetti co-founded Puccetti Farrell Capital Corporation, an institutional brokerage boutique. Previously, Mr. Puccetti was an investment banker, partner and member of the Steering Committee of Sprott Securities Limited.

Mr. MacDonald is the President and CEO of Goodwood Inc. Prior to joining Goodwood, Mr. MacDonald served as a Director, member of the Research and Executive Committee, and shareholder of Connor Clark Private Trust, and held various positions at CIBC Wood Gundy.

The Westaim Corporation's common shares are listed on The Toronto Stock Exchange under the trading symbol WED.

This news release contains forward-looking statements. These statements are based on current expectations that are subject to risks and uncertainties, and Westaim can give no assurance that these expectations are correct. Various factors could cause actual results to differ materially from those projected in such statements, including but not limited to statements regarding Westaim's advancement of its business strategy and pursuit of new investment opportunities. Westaim disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise. Accordingly, readers are advised not to place undue reliance on forward-looking statements, and should not rely on this information at any date other than the date of this news release. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

SOURCE Westaim Corporation


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