MONTREAL, Feb. 29, 2012 /CNW Telbec/ - Argex Mining Inc. (Argex) (TSXV: RGX) (FSE: ASV) (OTCBB: ARGEF) is pleased to announce the appointment of Mr. Normand Bergeron to its board of directors.
"We are extremely pleased to have an individual with Mr. Bergeron's experience and reputation with both the government and the private sector join the Argex board of directors and we are excited about the tremendous value-added he brings to the team as we advance towards becoming a near-term producer of high purity pigment grade TiO2," commented Argex President and CEO, Roy Bonnell.
Since October 2011, Mr. Bergeron has been acting as an Executive Counsellor at Samson Bélair/Deloitte & Touche. He was Chief Executive Officer of Infrastructure Québec from its creation in March 2010 until joining Deloitte. Mr. Bergeron was also Deputy Minister of the Ministère des Ressources Naturelles et de la Faune (Quebec Department of Natural Resources and Wildlife) from May 2005 to July 2009. He has held many senior management positions in the Québec public sector which he joined in 1975. He developed an extensive knowledge of the energy sector as Vice-President of the Régie de l'énergie du Québec (Québec Energy Board) from 2002 to 2005, as Associate Deputy Minister at l'Énergie et aux changements climatiques (Energy and Climate Change) from 2000 to 2002, as Managing Director of l'Agence de l'efficacité énergétique (Energy Efficiency Agency) from 1998 to 2000 and as a member of Hydro-Québec's Board of Directors (2005-2009).
Additionally, Argex reports that it has issued a total of 750,000 stock options on February 24, 2012. One director was granted 250,000 stock options while the 500,000 balance was granted to consultants. These incentive stock options are exercisable at $0.59 with an expiry date of February 24, 2017 and have an 18-month vesting period.
Argex is also pleased to announce, subject to approval of the TSX-V, the hiring of The Howard Group Inc. ("The Howard Group") to handle investor relations activities. As consideration for the services to be provided, The Howard Group will receive a $7,000 per month fee for a ten month contract. In addition, subject to regulatory approval, The Howard Group will be granted 250,000 stock options at a strike price of $0.59 vested quarterly over twelve months.
The principals of The Howard Group and The Insight II Limited Partnership, which is associated with The Howard Group, own shares in Argex and continue to acquire shares in the open market.
Up-to-date investor materials will be made available on Argex's client page on The Howard Group website - www.howardgroupinc.com/clients/argexmining.aspx.
The Howard Group will also maintain and distribute an ongoing investor commentary on behalf of Argex, to access visit - www.howardgroupinsightnewsletter.blogspot.com
About Argex Mining Inc.
ARGEX MINING INC. has recently transitioned from a mining exploration company to a near-term producer of commodities that the world needs: Titanium Dioxide, Iron and Vanadium Pentoxide. With a primary goal of advancing rapidly towards production, Argex has adopted a simple and low risk strategy for the scale-up of its proprietary process that allows it to produce high purity TiO2 directly from its 100% owned deposits.
Additionally, the Company owns 100% of the Mouchalagane property, which is a large Labrador Trough iron ore property that represents further potential upside for the Argex shareholders.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Roy Bonnell, President and Chief Executive Officer
Argex Mining Inc.
Frédéric Bérard, Vice President
HKDP Communications and Public Affairs
Dave Burwell, Senior Associate
The Howard Group Inc.
1 888 221-0915