Argex completes $5mn non-brokered private placement

17 Sep '13

2 min read

Argex Titanium Inc. 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. 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 Titanium

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