Pharmaceuticals
The Westaim Corporation statement on status of short-term investments
Published in Healthcare Mergers, Acquisitions and Ventures Week, September 8th, 2007
In response to the current liquidity situation in the asset-backed commercial paper market, The Westaim Corporation announced that the Company has $19.7 million invested in asset-backed commercial paper (ABCP) maturing on various dates over the next two months. These securities, which meet the criteria of The Westaim Corporation's investment policy, have been rated R-1 (high) by DBRS Limited. However, until these securities mature, Westaim cannot be certain that they will be repaid promptly, in which event there could be adverse consequences to the Company in the future.
The Company also has approximately $12 million in bank deposits and bankers' acceptances that are...
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