Titanium Issues Deferred Share Units
Calgary, Alberta – October 1, 2019 – Titanium Corporation Inc. (“Titanium” or the “Company”) announced that it has issued an aggregate of 110,997 deferred share units of the Company (“DSUs“) to non-executive directors under the Company’s shareholder approved deferred share unit plan (the “DSU Plan“)in settlement of $83,233 of directors’ compensation for the quarter ended September 30, 2019. The DSUs are to be settled in common shares (“Common Shares“) of the Company when a director retires from all positions with Titanium.
In accordance with the DSU Plan, the number of DSUs issued was based on a market price of $0.75, being the higher of the closing price of the Common Shares on the TSX Venture Exchange (“TSXV“) on September 30, 2019 and the 5-day weighted average price of the Common Shares for the period ended September 30, 2019.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Titanium will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.
About Titanium Corporation Inc.
Titanium Corporation’s CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry. The Company’s technology reduces the environmental impact of oil sands tailings while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents and minerals 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 will be created commencing with the production and export of zircon, an essential ingredient in ceramics. The Company’s shares trade on the TSX Venture Exchange under the symbol “TIC”. For more information, please visit the Company’s website at www.titaniumcorporation.com.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact:
President & CEO
Tel: (403) 561-0439
Vice President Finance & CFO
Tel: (403) 874-9498