Fairfax closes Westaim investment deal

Fairfax has closed a three-pronged investment deal with Westaim
involving issues of preferred stock and warrants.
The agreement will see Prem Watsa's financial services
holding company spend up to $500mn in investments sourced by the
smaller Canadian firm.
Toronto-based Westaim said it closed an initial sale of C$50mn
($37.1mn) of preferred securities to Fairfax on Friday (2 June).
The agreement requires Fairfax to invest up to another C$50mn in
preferred shares, which carry an interest rate of