Argex Titanium Inc. ARGEF

Argex Titanium Relates Further Progress on Vietnam Joint Ven

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MONTREAL, QC / ACCESSWIRE / February 28, 2019 / Argex Titanium Inc. (TSX: RGX) ("Argex") Meetings with Hung Thinh Minerals Investment Ltd in recent days have produced an agreement to proceed with the establishment of a joint venture company in Vietnam to produce pigment grade Titanium Dioxide (TiO2). Formal agreements which reflect the commitments of Argex and Hung Thin are being prepared and reviewed with attorneys representing both parties in the next 2-3 weeks. Actions agreed by the parties with respect to Vietnam government approvals, dispatch of ore samples to Argex from the Hung Thinh mines, and payment terms in the contracts are underway and are expected to be completed by the end of March.

"The results of our meetings were positive, and actions contained in the agreements are in progress. Legal arrangements to document our mutual understandings are being reflected in formal contracts and we look forward to executing the documents to cement the intents expressed in our recent meetings. I believe Argex is poised to benefit from this association both now and in the long-term future in Southeast Asia. Mutual cooperation was evident in our discussions and I expect a successful conclusion to these documents by the end of this month," said Mr. Mazen Alnaimi, Chairman and Chief Executive Officer.