Toronto, Ontario – April 16, 2018 – The Westaim Corporation (“Westaim” or the “Company”) (TSXV: “WED”) announces that, in view of the ongoing insurance industry consolidation activity and the receipt by Westaim and Houston International Insurance Group, Ltd. (“HIIG”) of several unsolicited enquiries, Westaim and HIIG may consider opportunities to enhance the growth and value of HIIG.

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