This release is intended for distribution in Canada only and is not intended for
distribution to United States
newswire services or for dissemination in the United States.
MONTREAL,
Sept. 16, 2013 /CNW Telbec/ -
Argex Titanium Inc. (TSXV: RGX) ("Argex") is pleased to
announce that it has completed its previously announced
$5 million non-brokered private
placement with a U.S. based investment fund manager and current
Argex shareholder (the "Investment Fund"). Argex issued a total of
4,878,049 common shares to Investment Fund at a price of
$ 1.025 per share. No warrants were
issued as part of this private placement.
"We are very pleased the Investment Fund has
taken this additional position in our Company," Roy Bonnell, President and Chief Executive
Officer of Argex, commented. "As they have indicated in this
process their interest in participating in the project financing of
the full scale production at the first industrial-sized plant in
Valleyfield, Quebec, we are
confident they will be a very important partner as we move
forward."
The shares issued at closing are subject to a
four-month "hold period" under applicable Canadian securities
legislation and the policies of the TSX Venture Exchange. Upon
closing of the private placement, there are 131,915,269 common
shares of Argex issued and outstanding.
About Argex Titanium Inc.
Argex Titanium Inc. is a near-term producer of
Titanium Dioxide (TiO2). With a primary goal of
advancing rapidly towards production, Argex has adopted a simple
and low-risk strategy for the scale-up of its proprietary process
that allows it to produce high-purity pigment-grade TiO2
directly from run-of-mine material. The closed-loop process is
environmentally friendly and produces minimal inert tailings.
Argex is pleased to have selected Valleyfield, Québec as the location for its
Research & Development centre and first industrial-sized
production facility. The location of the site can be viewed at
Argex Valleyfield.
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 the 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" 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, 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, 2012, 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.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Argex Titanium Inc.