Argex Titanium, Inc. (TSX: RGX), an emerging producer of high-grade titanium dioxide (TiO2) used as white pigment in paint, plastic, paper, cosmetics and other applications, announced that it has filed its financial results for the year ended December 31, 2014 on www.sedar.com and provided updated estimates related to the construction and operation of its first commercially sized TiO2 production facility to be located in Salaberry-de-Valleyfield, Quebec (the “Plant”).
“During 2014, we achieved significant milestones including securing an exclusive long-term marketing and supply agreement with Helm U.S. Corp.,” stated Roy Bonnell, President and CEO. “We raised CAD $7.5 million through the issuance of convertible debentures and exited 2014 with a clean capital structure as all remaining warrants have been exercised or expired.”
“Furthermore, in December of 2014 Argex received an ICIS Innovation Award. The annual ICIS Innovation Awards recognizes chemical companies that demonstrate an innovative approach to business, the environment and/or sustainability. We are proud to be counted among the very best innovators,” he added.
In February 2015, Argex announced that it had successfully completed technical due diligence associated with the financing of Argex’s first Plant.
“We are pleased to have passed this major financing milestone,” stated Roy Bonnell. “The technical diligence was demanding and thorough and contributed positively to the development of our financing process and our strategy of risk mitigation. Argex is poised for the next phase of its growth – the successful construction and operation of its first Plant.”