Latest News
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Argex Titanium announces JV for First Commercial Plant +
- Memorandum of Understanding for Joint Venture to Build TiO2 Pigment-Grade Production Facility in Vietnam
MONTREAL, Québec – November 27, 2018 – Argex Titanium Inc. (TSX: RGX) (“Argex”) is thrilled to announce that its chain of events necessary to change the TiO2 industry has now formally started by executing a significant agreement which will insure its future success and provide substantial benefit to its shareholders.
We are announcing the formal signing of a Memorandum of Understanding with a major mine operator in Vietnam, Hung Thinh Minerals Investment Co. Ltd., for the creation of a Joint Venture in Vietnam. The Joint Venture which is expected to be non-dilutive to Argex shareholders will construct a TiO2 pigment grade facility with initial capacity of 100,000 tonnes per annum, expandable to 300,000 tonnes per annum. The facility will use ore from existing mines which have an ilmenite reserve of more than 60 million tonnes. The project, expected to require investment in excess of 200 million US dollars, will be financed by our Vietnamese partner using Argex proprietary process technology. Products from the plant will be marketed to local users in SE Asia and world-wide whose aggressive growth is predicted to continue for many years. The project will also create employment in Vietnam, generate infrastructure needed for further development of assets in the country, and provide substantial economic benefits for the developing nation. Joint Venture Agreements will be completed in the next sixty (60) days and engineering work on the Vietnamese plant will commence early in 2019.
Argex is also in discussions with other counterparties to develop similar JVs in different countries. We will be sharing hopefully soon any new developments on all fronts.
“This agreement which is the culmination of years of work for Argex provides a sound base 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. The MOU with Hung Thinh indicates that confidence in the Argex technology will bring many licensing opportunities beyond this Joint Venture. My belief is that after a long period of intensive work by our staff, the opportunities for commercial benefit are being realized and our strategy is proving to be sound and viable for a long-term future in the TiO2 markets” said Mazen Al Naimi, Chairman and CEO.
“We look forward to the potential of this opportunity with Argex as a partner in developing a commercial TiO2 facility in Vietnam. It will allow us to pursue market opportunities in the Asian region and grow the company and its profitability. The Argex technology will provide us with a novel process which is environmentally friendly and cost effective. This partnership will benefit the economy of Vietnam and our company and we anticipate successful conclusion of this important project” said Mr. Phan Tranh Moun, Chairman of Hung Thinh.
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.
To stay informed on Argex Titanium, join our Investor Group on 8020 Connect at www.8020connect.com/groups/argex-titanium-inc.
About Hung Thinh
Hung Thinh Minerals Investment Co, Ltd. Is a member of the Hung Thinh Group founded in 2002 and headquartered in Ho Chi Minh, Vietnam which operates mines in Binh Thuan Province. The production from these mines includes ilmenite, rutile, monazite, leucexon, and zircon and the products are sold to regional customers in SE Asian markets. Hung Thinh specializes in the extraction of titanium bearing ores for processing into commercial grade minerals.
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.
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Argex Titanium Provides Corporate Update +
MONTREAL, Québec – October 25, 2018 – Argex Titanium Inc. (TSX: RGX) (“Argex”) Argex Titanium Inc. is pleased to provide this update relating to recent activities in which the Corporation has been engaged. There has been significant progress in several areas which provide confidence in the future of the Company.
Term sheets and agreements have been reached with off-takers for our products and supply of ore feedstock for our planned Technology Center and Commercial plant in Becancour.
Financing discussions have progressed with fund sources from governmental agencies, lead investors in Europe and the Middle East as well as with Canadian funds. Our objective is to complete these arrangements by the end of this year.
We are working diligently to complete the engineering package for the Technology Center and will be ready to progress to detailed engineering and construction early in 2019. Production of samples of colored pigment for commercial testing is produced at our Valleyfield Research facility on an ongoing basis. This will be a beneficial addition to the production of TiO2 pigments in our plants. Additionally, samples have now been prepared for testing in applications outside the architectural paint industry including paper, cosmetics, and color modifiers. Sample exchange with interested third parties is ongoing and will continue for several months into 2019.
After filing for a US patent in June, 2018, we are progressing in discussions with potential licensees and/or partners who wish to acquire rights for the Argex Technology. Discussions with a Southeast Asian client will occur in November in addition to meetings with potential partners in the region.
“As several milestones on the Argex strategic path near completion, it is important to look to the future – the exploration of our property in Lac Brûlé, Quebec to eventually source our own ilmenite for the Argex process, the initiation of contracts for equipment and facilities for the Becancour Technology Center, financial agreements which ensure the execution of our business strategies, and the expansion of our Intellectual Property portfolio. Argex’ future is promising, and we look forward to significant updates as discussions are concluded and commitments are made”, said Mazen Alnaimi, Chairman and CEO of Argex
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.
To stay informed on Argex Titanium, join our Investor Group on 8020 Connect at www.8020connect.com/groups/argex-titanium-inc.
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, 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.
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Argex Titanium- PVS Fanchem Letter of Intent +
MONTREAL, Québec – September 20, 2018 – Argex Titanium Inc. (TSX: RGX) (“Argex”) and Fanchem Ltd, a subsidiary of PVS Chemical Inc., a Michigan-based private corporation, are pleased to announce the execution of a Letter of Intent for the marketing of products to be manufactured in the commercial Argex titanium dioxide (TiO2) process. The agreement addresses a long-term arrangement for the sale and marketing of iron chloride, iron sulfate, iron oxide and magnesium sulfate which result from the optimized process for manufacture of pigment grade TiO2. The total volume of by-products from the Argex 100,000 tonnes TiO2 facility will exceed 190,000 tonnes per year.
“This is an important agreement for Argex as it secures an essential commercial outlet for products that are created in our production of titanium dioxide in our commercial facilities. It demonstrates that the Argex technology is environmentally friendly as the output is saleable to established users. It gives Argex access to established market demand which will accelerate our ability to gain advantage for our commercial facilities. We look forward to a long-term relationship with PVS Fanchem Ltd, which will be beneficial to both companies” said Mazen Alnaimi, Chairman and CEO of Argex.
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.
To stay informed on Argex Titanium, join our Investor Group on 8020 Connect at www.8020connect.com/groups/argex-titanium-inc.
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, 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.
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Argex Titanium Holds Second Closing of Private Placement for $780,000 +
Not for distribution to United States newswire services or for dissemination in the United States
MONTREAL, Québec – September 13, 2018 – Argex Titanium Inc. (TSX: RGX) (“Argex”) is pleased to announce that it has held a second closing of its previously announced private placement at which it issued 24,371,875 additional units to Mr. Munther Khalifa A Allahiq at a price of $0.032 per unit for gross proceeds to Argex of approximately $780,000. The second closing followed clearance by the Toronto Stock Exchange of a “Personal Information Form” submitted by Mr. Allahiq in light of the number of units for which he subscribed.
Each of the units is comprised of one common share and one common share purchase warrant. Each warrant entitles its holder to acquire one additional Argex common share at a price of $0.041 for a period of five years.
Argex will use the proceeds from the second closing for working capital.
Argex issued a total of 43,746,875 units to Mr. Allahiq in the private placement for gross proceeds to Argex of approximately $1.4 million. Mr. Allahiq is the brother of Mazen Alnaimi, Argex’s Chairman and CEO. Argex considers that the private placement was at arm’s length.
The securities issued at the second closing of the private placement are subject to a four-month “hold period” under applicable securities regulations.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, and these securities will not be offered or sold in any jurisdiction in which their offer or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws of the United States. Accordingly, these securities will not be offered or sold to persons within the United States unless an exemption from the registration requirements of the 1933 Act and applicable state securities laws is available.
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.
To stay informed on Argex Titanium, join our Investor Group on 8020 Connect at www.8020connect.com/groups/argex-titanium-inc.
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, 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.
This email address is being protected from spambots. You need JavaScript enabled to view it.
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Investor Events
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06/29/2017- Annual and Special Meeting of Shareholders +
Form of Proxy
Management Information Circular
Notice of Meeting
Notice and Access
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