The Westaim Corporation announced the appointment of Stephen R. Cole to its Board of Directors effective November 14, 2014. From 1975 until June 2010, Mr. Cole was President and Founding Partner of Cole & Partners. Mr. Cole was President of Duff & Phelps Canada Limited until May 2013 and thereafter President of Seeonee Inc. He is currently a director and an advisory committee member to several private companies. Previously, Mr. Cole was a director of H. Paulin & Co. Limited.

The company announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter the company has reported revenue of CAD 0.6 million against CAD 0.1 million a year ago. Profit and other comprehensive income was CAD 16.4 million or CAD 0.31 per basic and diluted share against loss and other comprehensive loss of CAD 0.5 million or CAD 0.04 per basic and diluted share a year ago.

For the nine months, the company has reported revenue of CAD 0.7 million against CAD 0.3 million a year ago. Profit and other comprehensive income was CAD 11.9 million or CAD 0.44 per basic and diluted share against loss and other comprehensive loss of CAD 1.7 million or CAD 0.12 per basic and diluted share a year ago. Book value per share as at September 30, 2014 was CAD 2.64 against CAD 2.37 per share a year ago.