TORONTO, Oct. 22, 2018 /CNW/ - The Westaim Corporation
("Westaim" or the "Company") (TSXV: WED) is pleased to announce
that Arena Special Opportunities Fund ("ASOF LP"), an investment
fund managed by Arena Group, was awarded the "Newcomer Credit" Fund
of the Year Award for 2018 at the annual HFM US Hedge Fund
Performance Awards, held in New York,
USA on October 18, 2018. The
award recognized the fund's twelve month performance through
June 30, 2018.
"The award is a terrific compliment given the formidable
competition and a nice recognition for the Arena Group" said J.
Cameron MacDonald, President and
Chief Executive Officer of Westaim.
HFM is an information and membership networking group providing
a wide range of exclusive news, research, analysis, performance
data, investor profiles, events, networking opportunities and
online resources to the global community of hedge fund
professionals. HFM provides products such as HFMWeek,
HFMCompliance, HFM InvestHedge, HFMTechnology, Alt Credit
Intelligence, CTA Intelligence, AsiaHedge, Absolute Return and
EuroHedge. The annual HFM US Hedge Fund Performance Awards
recognized and rewarded the best performing US-based hedge funds
over the past 12 months.
About Westaim
Westaim is a Canadian investment company specializing in
providing long-term capital to businesses operating primarily
within the global financial services industry. The Company invests,
directly and indirectly, through acquisitions, joint ventures and
other arrangements, with the objective of providing its
shareholders with capital appreciation and real wealth
preservation. Westaim's strategy is to pursue investment
opportunities with a focus towards the financial services industry
and grow shareholder value over the long term. Westaim's
investments include significant interests in HIIG and the Arena
Group. HIIG, the HIIG Partnership, Arena, the Arena Group, Arena
Finance, Arena Origination and Arena Investors are defined in the
notes to Westaim's unaudited consolidated financial statements for
the three and six months ended June 30,
2018 and 2017 and the MD&A. Westaim's common shares are
listed on the TSX Venture Exchange under the trading symbol
WED.
Except for statements of historical fact contained herein,
information in this press release may constitute "forward-looking
information" within the meaning of Canadian securities laws. Other
than statements of historical fact, all statements that involve
various known and unknown risks, uncertainties and other factors
are "forward-looking statements". There can be no assurance that
such statements will prove accurate. Results and future events
could differ materially from those anticipated in such statements.
Readers of this press release are cautioned not to place undue
reliance on these "forward-looking statements". Except as otherwise
required by applicable law, Westaim expressly disclaims any
intention or obligation to update publicly any forward-looking
information, whether as a result of new information, future events
or otherwise. Past performance is not indicative of future results,
which may vary. The information provided herein does not constitute
an offer or solicitation regarding any investment products or
services offered by Arena Group. Additionally, any designation or
distinction by an industry group such as HFM may not be deemed an
endorsement of any Arena Group product or service and may only be
considered within the context of the methodologies utilized by
HFM.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Westaim Corporation