Home / Knowledge / News / Textiles / Argex executes $5mn non-brokered placement with Ressources
Argex executes $5mn non-brokered placement with Ressources
24
Aug '13
Argex Titanium Inc. is pleased to announce that it has completed its previously announced $5 million non-brokered private placement with Ressources Québec Inc., a subsidiary of Investissement Québec.

Argex issued a total of 4,878,049 common shares to Ressources Québec at a price of $ 1.025 per share, which represents the volume-weighted average closing price of Argex’s shares on the TSX Venture Exchange for the 20 trading days prior to the date of signing the Letter of Intent on July 8, 2013. No warrants were issued as part of this private placement.

“We are very pleased Ressources Québec has taken this initial position in our company,” Roy Bonnell, President and Chief Executive Officer of Argex, commented. “Ressources Québec has indicated in this process its interest in participating in the project financing of the full scale production at the first industrial-sized plant in Valleyfield, Québec. We are confident Ressources Québec 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 126,812,220 common shares of Argex issued and outstanding.

The remaining $5M private placement from a U.S. based investment fund manager and current Argex shareholder is expected to close shortly but no later than September 16, 2013.

About Investissement Québec

Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.

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


Must ReadView All

S Korea, Philippines sign free trade agreement

Textiles | On 26th Oct 2021

S Korea, Philippines sign free trade agreement

South Korea recently signed a free trade agreement with the...

Pic: Shutterstock

Retail | On 26th Oct 2021

UK retail sales volumes drop by 0.2% in Sept 2021: ONS

UK retail sales volumes fell by 0.2 per cent in September following...

Pic: Shutterstock

Textiles | On 26th Oct 2021

US budget deficit hits $2.77 trn in 2021, the second highest

US budget deficit totalled $2.77 trillion for the fiscal that ended...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Anju Modi, Label Anju Modi

Anju Modi
Label Anju Modi

Filmfare Award winner for best costume designer,<b> Anju Modi </b>is...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search