Argex Titanium Relates Status of the Vietnam Joint Venture
MONTREAL, April 4, 2019 - Argex Titanium Inc. (TSX: RGX) ("Argex")
Argex has continued negotiations with Hung Thinh with respect to a Joint Venture to be formed in Vietnam. Confirming contracts have proven difficult to generate because local government regulations and legal conditions are serious constraints. Periodic updates will be provided to the market as this process continues to conclusion.
"It is somewhat frustrating that getting our agreement with the top management of Hung Thinh into contract form that satisfies the regulations of local governments and conforms to the agreement reached between the parties in Singapore more than a month ago. Legal effort continues to resolve language differences in the contracts which will produce execution copies of these agreements. Argex will continue to support this effort until satisfactory contracts are produced and we will announce the conclusion to the market as soon as contracts are executed," said Mr. Mazen Alnaimi, Chairman and CEO of Argex.
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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