<<
                            Tuesday, May 12, 2009
                                10:00 a.m. ET
                               www.westaim.com
    >>

CALGARY, May 7 /CNW/ - The Westaim Corporation will hold a webcast at 10:00 a.m. ET on Tuesday, May 12, 2009 to broadcast the Company's Annual Meeting of Shareholders.

The Westaim Corporation will also be releasing its 2009 first quarter results on Monday, May 11, 2009. In addition to standard disclosure over wire services, a news release and financial statements will be posted on the Westaim web site.

To listen to the Annual Meeting of Shareholders webcast live on the Internet, please go to www.westaim.com.

Ian W. Delaney, Chairman of the Board, and Cameron MacDonald, President & Chief Executive Officer will participate on the webcast.

An audio file of the webcast will be archived and posted on the Westaim web site.

The Westaim Corporation 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 holds a 75 per cent interest in NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST; TSX: NCS). Westaim's common shares are listed on The Toronto Stock Exchange under the trading symbol WED.

%SEDAR: 00002793E