Argex Titanium Extends Maturity Date of 15% Secured Convertible Notes
MontrÃ©al, QuÃ©bec (FSCwire) - Argex Titanium Inc. (TSX: RGX) (“Argex”) announces that it has extended by two years the maturity date of 15% secured convertible notes issued by it in July 2016, from July 13, 2018 to July 13, 2020. There are convertible notes currently outstanding in an aggregate principal amount of $2,105,000.
The extension of the maturity date of the convertible notes was approved by Argex’s “disinterested” shareholders at an annual and special meeting held on June 27, 2018, as required by the Toronto Stock Exchange, and by the holders of at least 66 …”% of the principal amount of all outstanding convertible notes, as required by the Trust Indenture dated July 13, 2016 entered into between Argex and Computershare Trust Company of Canada. Argex and Computershare Trust Company of Canada have entered into a First Supplemental Indenture giving effect to the extension of the maturity date of the convertible notes. All other terms and conditions of the convertible notes remain the same.
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.
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Chairman and Chief Executive Officer | Argex Titanium Inc.
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Source: Argex Titanium Inc. (TSX:RGX, OTC Pink:ARGEF, FWB:ASV)
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