Westaim Announces Management Change at Houston International Insurance Group, Ltd.

TORONTO, Sept. 29, 2015 /CNW/ - The Westaim Corporation ("Westaim" or the "Company") (TSXV: "WED") today announced that Mr. Peter W. Presperin has tendered his resignation as Chief Financial Officer ("CFO") of Houston International Insurance Group, Ltd. ("HIIG") for personal reasons.  Mr. Edward H. Ellis has been appointed as interim CFO of HIIG until a full-time replacement for Mr. Presperin is appointed.  Mr. Ellis was CFO of HIIG between 2012 and 2014.

Stephen L. Way, Chief Executive Officer of HIIG, commented, "On behalf of HIIG, I would like to thank Peter for his efforts as Chief Financial Officer and wish him every success in the future."

About Westaim

Westaim is a publicly traded Canadian investment company specializing in providing long-term capital to businesses operating primarily within the global financial services industry. Westaim 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.

SOURCE Westaim Corporation

J. Cameron MacDonald, President and Chief Executive Officer or Robert T. Kittel, Chief Operating Officer, The Westaim Corporation, 416-969-3333, [email protected]