Argex Titanium Inc.: Appoints New Director and CFO
MONTREAL, QUEBEC--(Marketwired - Dec 23, 2015) - Argex Titanium Inc. (TSX:RGX) (''Argex'' or the ''Company'') is pleased to announce today the appointment of Mr. Steve Hollanda to the Board of Directors of the Company. Mr. Hollanda has significant financial experience with a variety of global publicly traded companies.
Argex also announces the hiring of Mr. Derek Lindsay as Vice-President and Chief Financial Officer. Mr. Lindsay replaces Serge Depatie who previously held the CFO position on an interim basis. Mr. Lindsay is a seasoned financial executive and brings broad experience, in Canada and internationally, from senior finance roles at public companies in the mining and technology sectors. Mr. Lindsay is also a partner at Sierra Financial Corp., a consulting company offering financial advice to medium sized public and private companies.
"The addition of Steve and Derek to the new Argex team will accelerate our ability to secure a strategic partner and recapitalize the Company as we announced December 18, 2015," stated Mazen Haddad, Director and interim President and CEO of the Company. Mr. Haddad also expressed his thanks to Mr. Depatie for his handling of the Company's financial affairs during this transition period.
About Argex Titanium Inc.
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 applications. The company's unique proprietary process takes relatively inexpensive and plentiful source material from a variety of potential vendors, and produces TiO2 along with other valuable by-products. Argex's process provides a significant cost and environmental advantage over current legacy TiO2 production methods.
Forward-Looking Statements
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, 2014, 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.
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