Cash Dividend of approximately C$1.4 million VANCOUVER, British Columbia, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX: TI) (“Titan” or the “Company”) today announces that its Board of Directors has declared a special cash dividend of C$0.01 per common share (the “Dividend”) for an aggregate distribution of approximately C$1.4 million based on the current number of shares outstanding.
Don Taylor, President and CEO commented, “The Company’s recent cash flow generation from its Empire State Mine has enabled the Company to reward shareholders with this special dividend. Given the stability of operations at the Company’s Empire State Mine, the Company’s production growth profile over the next three years and the outlook for the price of zinc, the Company’s intention is to pay a regular quarterly dividend. This inaugural dividend will, however, be a special dividend to all shareholders.”
The Dividend is payable on October 15, 2021 to shareholders of record at the close of business on September 30, 2021.
The Dividend will be designated an “eligible dividend” for Canadian tax purposes. The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.
About Titan Mining Corporation
Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York state. Titan is built for growth, focused on value and committed to excellence. For more information on the Company, please visit our website at www.titanminingcorp.com.