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Westaim HIIG Limited Partnership receives remaining regulatory approvals for proposed acquisition

Monday, 28 Jul 2014 08:10am EDT

Westaim Corp:Further to its press releases of March 12 and May 14 relating to the proposed acquisition by Westaim HIIG Limited Partnership (the Partnership) of interest in Houston International Insurance Group, Ltd. (HIIG).Westaim Corporation (WED) announces that the Partnership has received approval for the acquisition from Texas Department of Insurance and Oklahoma Insurance Department.This follows receipt by the Partnership of certain other requisite regulatory approvals for acquisition, including notice of early termination of the waiting period under the United States Hart-Scott-Rodino Act and conditional approval from the TSX Venture Exchange.With all applicable regulatory approvals for the Acquisition having now been obtained, the closing of acquisition is currently expected to take place on or about July 31.

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