- Permitting completed with the Government of Quebec
- Operations underway with engineering and new R&D team now located on-site
- On-site R&D centre expected to accelerate training and timelines while better protecting and enhancing intellectual property
MONTREAL, Oct. 29, 2013 /CNW Telbec/ - Argex Titanium Inc. (TSX: RGX) ("Argex" or the "Company") is pleased to announce that its Research and Development Centre ("R&D Centre") is now operating at Salaberry-de-Valleyfield ("Valleyfield"), which is also the planned site of the Company's first industrial-sized titanium dioxide (TiO2) production facility.
The R&D Centre received its operating permits from the Government of Quebec last week. The Company has moved its engineering team from its corporate offices in Montreal to Valleyfield, where its R&D team is also located.
Argex believes that the close integration of the Company's R&D activities with the development of its Valleyfield facility at a single site will result in a more focused coordination between trials and engineering detailed design, as well as lower overall costs. The Company will now be able to benefit more fully from the research and development tax credits from the Government of Quebec. The R&D Centre will also serve as an important training facility for the future commercial operations at Valleyfield. In addition, by operating the R&D Centre directly, Argex is now in a much better position to protect and enhance its intellectual property.
"The R&D Centre at Valleyfield enables Argex to continue innovation on its titanium production process as we advance towards production," asserted Enrico Di Cesare, Chief Operating Officer and Vice-President, Technology at Argex. "The fact that the R&D Centre is now operational will help the Argex technology team find more ways to decrease the operating and capital costs of our first industrial-sized production module."
About Argex Titanium Inc.
ARGEX Titanium Inc. is a near-term producer of Titanium Dioxide (TiO2) pigment. 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. Argex is pleased to have selected Valleyfield, Quebec as the location for its Research & Development centre and first industrial-sized production facility. The location of the site can be viewed at Argex Valleyfield.
This news release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Argex, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Argex will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Argex's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in Argex's Annual Information Form for the fiscal year ended December 31, 2012, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. Argex does not intend, nor does Argex undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Argex Titanium Inc.
For further information:
Roy Bonnell, President and Chief Executive Officer
Argex Titanium Inc.
Argex Titanium Inc.
The Howard Group
Sarah Moreau, Consultant, Financial & Regulatory Affairs
514 395-0375, ext.234