CALGARY, ALBERTA – March 7, 2022 – Titanium Corporation Inc. (the "Company" or "Titanium") (TSX-V: TIC) announces that Scott Nelson will be retiring from his position as President and Chief Executive Officer of the Company effective March 31, 2022. Upon Mr Nelson’s retirement, and until such time as the board of directors (the "Board") of the Company appoints a permanent Chief Executive Officer, the Board has appointed the current Chairman, Darren Morcombe, as the Company’s Executive Chairman and Interim Chief Executive Officer effective March 31, 2022.
With the Chairman assuming an interim executive role the Board has appointed John Brussa as Lead Independent Director consistent with best governance practice.
In order to continue to benefit from Mr. Nelson’s deep knowledge of the Company, government agencies and our oil sand industry partners, Mr. Nelson will be engaged by the Company as a consultant until the end of May 2025.
Mr Nelson has worked tirelessly to progress the development of the Company and its CVWTM technology since his appointment in 2005. He has overseen the technical development and successful piloting of the technology on tailings from a number of oil sands operations, secured significant government support in the form of grants and built a strong partnership with Canadian Natural Resources Limited (“Canadian Natural”) to undertake FEED and further optimisation studies for potential deployment of the CVWTM technology at Canadian Natural’s Horizon site. The Board would like to thank Scott for all his efforts advancing the Company to where it is today, looks forward to continuing to work with him as consultant and wishes Scott all the best in his retirement.
Announcing the changes, Mr. Morcombe thanked Mr. Nelson for his efforts as CEO. “I look forward to continuing to work with Scott and building onto the fantastic foundations he has forged and with the incredible team he has built over the last 17 years. I personally appreciate his ongoing commitment to the company even as his personal priorities change.”
Mr. Nelson said, “It has been a privilege to work with the talented Titanium team and our industry and government partners, collaboratively developing innovative clean technology solutions for the oil sands industry. I am optimistic about the future for our Company and the CVW™ technology which will help the industry meet its ESG goals.”
About Titanium Corporation
Titanium is a clean technology innovator focused on providing solutions to the mining sector of Canada’s oil sands industry. Titanium Corporation’s CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oilsands industry. Our technology reduces the environmental impact of oil sands froth treatment tailings, while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents, heavy minerals and water from tailings, preventing these commodities from entering tailings ponds and the atmosphere: volatile organic compound and greenhouse gas emissions are materially reduced; hot tailings water is improved in quality for recycling; and residual tailings can be thickened more readily. A new minerals industry would be created with the production and export of zircon and titanium, essential ingredients in the ceramics and pigment industries.
For further information, please contact:
|Darren Morcombe||Ingrid Meger|
|Executive Chair and Interim CEO||Vice President Finance & CFO|
|(+41) 79205 2687||(403) 862-8325|
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