Argex Titanium Relates Further Progress on Vietnam Joint Venture
MONTREAL, QC / ACCESSWIRE / February 28, 2019 / Argex Titanium Inc. (TSX: RGX) ("Argex") Meetings with Hung Thinh Minerals Investment Ltd in recent days have produced an agreement to proceed with the establishment of a joint venture company in Vietnam to produce pigment grade Titanium Dioxide (TiO2). Formal agreements which reflect the commitments of Argex and Hung Thin are being prepared and reviewed with attorneys representing both parties in the next 2-3 weeks. Actions agreed by the parties with respect to Vietnam government approvals, dispatch of ore samples to Argex from the Hung Thinh mines, and payment terms in the contracts are underway and are expected to be completed by the end of March.
"The results of our meetings were positive, and actions contained in the agreements are in progress. Legal arrangements to document our mutual understandings are being reflected in formal contracts and we look forward to executing the documents to cement the intents expressed in our recent meetings. I believe Argex is poised to benefit from this association both now and in the long-term future in Southeast Asia. Mutual cooperation was evident in our discussions and I expect a successful conclusion to these documents by the end of this month," said Mr. Mazen Alnaimi, Chairman and Chief Executive Officer.
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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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 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", "target" 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, 2017, 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.
Chairman and Chief Executive Officer | Argex Titanium Inc.
SOURCE: Argex Titanium Inc.
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