Argex Titanium Inc. ARGEF

Latest comment from Argex spokesperson

[moonlight1]

Good day, The updates provided in our press release of August 8 are the direct results of Argex’s new Management strategy that has been implemented over the last twelve months. These are all fundamental elements that will constitute Argex’s foundations for the future. The investments required to get these results have been spread out over several months and were made possible by the two private placements that were concluded in July of 2016 and in March of 2017. It is important to note that our CEO, Mazen Alnaimi, has made a significant personal investment in Argex when he was appointed. Furthermore, as detailed in the Annual Meeting circulars, Mazen Alnaimi’s salary and bonus for performance were paid in shares in 2016 and the same will apply in 2017. The net proceeds of the private placement that has been announced earlier in July will serve to finance the works related to the basic engineering and to a technology package for its titanium dioxide (TiO2) project. Lastly, let me assure you that only essential expenses were made in Argex in the last 12 months and that they were all dedicated to our priorities, that is to finalize our process, to get our products approved by industry leaders and to prepare for the construction of our technology center and our commercial plant in the next few months. I hope this will help to better understand our strategy and philosophy. Don’t hesitate if you have other questions! Gladys