Argex Titanium Poised to Secure Significant Offtakes for Commercial Plant
MONTREAL, Québec (FSCwire) - Argex Titanium Inc. (TSX: RGX) (“Argex” or “the Corporation”) is pleased to announce that it is in discussions with major off-takers of pigment grade titanium dioxide (TiO2) for the expansion and renewal of previous agreements. The discussions are expected to lead to commitments for larger volumes and the expansion of geographic coverage from a regional to a global level.
Agreements were signed with two off-takers a few years ago and are now due for renewal. The significant improvements made to the product (morphology, size, colour and opacity) by the new management and technical teams at Argex have persuaded industry leaders to consider increasing their volume commitments with Argex. These agreement renewals could see Argex secure the distribution of all its planned production capacity for the short and long-term.
“Our objective is to become a global player as an emerging low-cost producer of TiO2, and our off-takers appreciate that vision,” said Mazen Alnaimi, Chairman and Chief Executive Officer of Argex. “We believe that the TiO2 industry is poised for growth globally, and that Argex will be well positioned to benefit from that.”
About Argex Titanium
Argex Titanium Inc. has developed an advanced chemical process for the volume production of high-grade titanium dioxide (TiO2) for use in high-quality paint, plastics, cosmetics and other TiO2 applications. The Corporation’s unique proprietary process uses relatively inexpensive and plentiful source material from a variety of potential vendors to produce TiO2, along with other valuable by-products. Argex’s process provides a significant cost and environmental advantage over current legacy TiO2 production methods.
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Forward-Looking Statements
This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of Argex, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including additional closings of the private placement referred to above, or if any of them do so, what benefits Argex will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Argex's control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in Argex’s Annual Information Form for the fiscal year ended December 31, 2016, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. Argex does not intend, nor does Argex undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Contact:
Mazen Alnaimi
Chairman and Chief Executive Officer
info@argex.ca
Gladys Caron
Corporate Communications and Investor Relations
Gladys.caron@argex.ca
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/ArgexAug32017_0.pdf
Source: Argex Titanium Inc. (TSX:RGX)
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