Titanium Corporation Announces $1.96 Million Non-Repayable Funding Contribution From Natural Resources Canada’s Clean Growt...
January 19 2021 - 5:30PM
Titanium Corporation Inc. (the "Company" or "Titanium")
(TSX-V: TIC) is pleased to announce that the Company and
Natural Resources Canada have signed a Non-Repayable Contribution
Agreement (“the Agreement”) for $1.96 million of funding of
eligible expenditures of a work program for the period April 1,
2020 to March 31, 2021 as part of the detailed engineering phase of
the CVW™ Horizon Project.
The Clean Growth Program is a Government of
Canada collaborative approach to advance clean technologies toward
commercial readiness so that natural resources operations can
better reduce their impacts on air, land, and water, while
enhancing competitiveness and creating jobs.
“The government continues to support innovative
and sustainable projects to lower emissions and save Canadians
money,” said the Honourable Seamus O’Regan Jr., Canada’s Minister
of Natural Resources.
“We wish to thank Natural Resources Canada’s
Clean Growth Program for their support toward commercialization of
our CVW™ sustainable technology,” commented Scott Nelson,
Titanium’s President and CEO. “This program and funding are
invaluable in meeting the environmental challenges and economic
opportunities facing Canada’s natural resources operations.”
The work program includes validation engineering
for CVW™ Horizon Project facilities including the concentrator
plant, minerals plant and transload facility and associated Class 3
capital cost estimates. During the first quarter of 2021, the
program will focus on minerals sample testing, minerals process
engineering work to validate the resizing of the minerals plant and
the front-end engineering design of a transload facility for rail
shipment of minerals products.
Titanium has also been awarded funding for the
CVW™ Horizon project by Sustainable Development Technology Canada,
Emissions Reduction Alberta, and Environment and Climate Change
Canada’s Low Carbon Economy Fund.
About Titanium Corporation
Titanium's CVW™ technology provides sustainable solutions to reduce
the environmental footprint of the oil sands industry. Our
technology reduces the environmental impact of oil sands froth
treatment tailings while economically recovering valuable products
that would otherwise be lost. CVW™ recovers bitumen, solvents,
heavy minerals and water from tailings, preventing these
commodities from entering tailings ponds and the atmosphere:
volatile organic compound and greenhouse gas emissions are
materially reduced; hot tailings water is improved in quality for
recycling; and residual tailings can be thickened more readily. A
new minerals industry will be created commencing with the
production and export of zircon and other titanium-based minerals.
The Company's shares trade on the TSX-V under the symbol "TIC". For
more information please visit the Company's website at
www.titaniumcorporation.com.
About Natural
Resources Canada’s Clean Growth ProgramNatural Resources
Canada’s Clean Growth Program is a $155-million investment fund for
clean technology research, development and demonstration in
Canada’s energy, mining and forest sectors. The program helps
advance emerging clean technologies toward commercial readiness so
that natural resource operations can further reduce their
environmental impacts such as GHG emissions while enhancing
competitiveness and creating jobs.
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.
For further information, please contact:
Scott Nelson
President & CEO
(403) 561-0439
snelson@titaniumcorporation.com
Jennifer Kaufield
Vice President Finance & CFO
(403) 874-9498
jkaufield@titaniumcorporation.com
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