Argex Titanium Announces a Major Commercial Agreement
MONTREAL, November 28, 2018 - Argex Titanium Inc. (TSX: RGX) ("Argex") is thrilled to announce that significant events necessary to change the TiO2 industry have now formally started with the execution of a significant agreement which will contribute to its future success and provide substantial benefit to its shareholders.
We are pleased to announce the signing of a long term off-take agreement for our TiO2 with a major international paint company. This contract provides a substantial base for product supply from our upcoming Technology Center and Commercial plant to be built in Becancour, Quebec.
This contract follows substantial evaluations of our product by five separate independent paint producers, both domestic and foreign, and provides assurance that Argex technology will provide various grades of TiO2 pigment material for coating applications in the worldwide market.
"This agreement which is the culmination of years of work for Argex provides a sound basis for our economic and technical future. It is rewarding that the confidence placed in Argex by major players in the TiO2 user industry has fulfilled our ambition for the company. My conviction is that the opportunities for commercial benefit are being realized and our corporate strategy is proving to be sound and viable for a long-term future in the TiO2 markets" said Mazen Al Naimi, Chairman and CEO.
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 byproducts. 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 completion of Argex's TiO2 finished coating production facility in Bécancour, Québec, sales of TiO2 under the TiO2 Purchase Agreement, completion of the Joint Venture with Hung Thinh Minerals Investment Co. Ltd. for construction of a TiO2 pigment-grade production facility in Vietnam, all as referred to above, or if any of them do transpire or occur, what benefits Argex will derive from them. 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, 2017, 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 | Argex Titanium Inc.
info@argex.ca
SOURCE: Argex Titanium Inc.