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Titanium Corporation, Inc.

Published : December 19th, 2016

Titanium Corporation Announces Fully Subscribed Rights Offering

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Keywords :   Canada | Commodities | Debt | Miners | Oil | Target | Technology | Titanium | Water | Zircon |

Titanium Corporation Announces Fully Subscribed Rights Offering

NOT FOR DISTRIBUTION TO U.S. NEW WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.


Calgary, Alberta -- December 19, 2016 -- Titanium Corporation Inc. ('Titanium' or the 'Company') announces that its previously announced rights offering has been fully subscribed, raising $6,534,531 in aggregate gross proceeds.

Of the 13,069,062 common shares issuable in connection with the rights offering, 9,741,977 (75% of the common shares offered) were issued on the exercise of rights (including 7,589,467 common shares issued pursuant to the basic subscription privilege and 2,152,510 common shares issued pursuant to the additional subscription privilege) and 3,327,085 (25% of the common shares offered) are issuable to standby purchasers under the standby purchase agreement. The transactions contemplated by the standby purchase agreement are expected to be completed on Tuesday, December 20, 2016, after which time 79,114,374 common shares of Titanium are expected to be outstanding.

'We are very pleased to announce the successful completion of the Company's rights offering, raising the maximum of $6.5 million. We are grateful for the positive support of our shareholders and strong participation by all of the Company's board and management who increased their direct ownership to 21.5% from 16.4%,' commented Scott Nelson, Titanium's President and Chief Executive Officer. 'Our Company enters 2017 with a much improved outlook for our target customers, the oil sands miners, more clarity on emerging government funding programs, a stronger customer value proposition, wide recognition of our award-winning technology and a strengthened balance sheet following this rights offering and debt repayment. We believe we are better positioned than ever for commercialization of our sustainable technologies which is our overriding goal.'

The Company used a portion of the aggregate gross proceeds of the offering ($1,005,918) to repay the outstanding principal amounts of the loans (and all accrued and unpaid interest thereon) owing to Mr. Moss Kadey (a director and major shareholder of the Company) and Mr. David MacDonald (Chairman and major shareholder of the Company). The effect of such repayment was to eliminate all of the Company's outstanding debt obligations.

In connection with the offering, and in consideration for their purchase commitment under the standby purchase agreement, Titanium will issue to the standby purchasers an aggregate of 2,550,000 common share purchase warrants exercisable at $0.70 per common share for a period of two years after the date the offering is completed.

In aggregate, 5,601,040 common shares were issued to insiders (or affiliates of insiders) of the Company under the rights offering (2,904,005 common shares pursuant to the basic subscription privilege, 1,087,200 common shares pursuant to the additional subscription privilege and 1,609,835 common shares pursuant to the standby purchaser agreement).

About Titanium Corporation Inc.

Titanium Corporation's CVW(tm) technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry. The Company's technology reduces the environmental impact of oil sands tailings while economically recovering valuable products that would otherwise be lost. CVW(tm) recovers bitumen, solvents and minerals from tailings, preventing these commodities from entering tailings ponds and the atmosphere: volatile organic compound and greenhouse gas emissions are materially reduced; hot tailings water is improved in quality for recycling; and residual tailings can be thickened more readily. A new minerals industry will be created commencing with the production and export of zircon, an essential ingredient in ceramics. The Company's shares trade on the TSX Venture Exchange under the symbol 'TIC'. For more information, please visit the Company's website at www.titaniumcorporation.com.

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.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This document shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-looking Information

This news release contains certain forward-looking information and statements within the meaning of applicable Canadian securities legislation. Certain statements contained in this news release may contain such words as 'anticipate', 'could', 'continue', 'should', 'seek', 'may', 'intend', 'likely', 'plan', 'estimate', 'believe', 'expect', 'will', 'objective', 'ongoing', 'project' and similar expressions are intended to identify forward-looking information or statements. In particular, this news release contains forward-looking statements involving the timing of the closing of the transactions contemplated by the standby purchase agreement and the common share purchase warrants to be issued as consideration under the standby purchase agreement. Although the Company believes that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on the forward-looking information and statements because the Company can give no assurances that they will prove to be correct. Since forward-looking information and statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. As a result, we cannot guarantee that any forward-looking information will materialize and we caution you against relying on any of this forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Additional information on these and other factors are disclosed in our management discussion and analysis, including under the heading 'Discussion of Risks', and in other reports filed with the securities regulatory authorities in Canada from time to time and available on SEDAR (sedar.com). The forward-looking information and statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Any forward-looking statements made previously may be inaccurate now.

For further information, please contact:

Scott Nelson
President & CEO
Tel: (403) 561-0439
Email: [email protected]

Jennifer Kaufield
Vice President, Finance & CFO
Tel: (403) 874-9498
Email: [email protected]

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Titanium Corporation, Inc.

CODE : TIC.V
ISIN : CA88833T1049
CUSIP : 88833T104
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Contact Cpy

Titanium Corp is a oil exploration company based in Canada.

Titanium Corp holds various exploration projects in Canada.

Its main exploration property is OIL SANDS PROJECT in Canada.

Titanium Corp is listed in Canada and in United States of America. Its market capitalisation is CA$ 115.5 millions as of today (US$ 92.4 millions, € 87.0 millions).

Its stock quote reached its highest recent level on March 11, 2005 at CA$ 4.24, and its lowest recent point on December 24, 2008 at CA$ 0.15.

Titanium Corp has 79 140 000 shares outstanding.

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Financials of Titanium Corporation, Inc.
7/22/2016Reports Fiscal Year 2016 Third Quarter Results
4/29/2016Reports Fiscal Year 2016 Second Quarter Results
1/24/2014Reports Fiscal Year 2014 First Quarter and Operational Updat...
4/30/2013Reports Fiscal Year 2013 Second Quarter Results and Operatio...
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7/20/2011Reports Fiscal Year 2011 Third Quarter Results and Operation...
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1/27/2009Reports 2009 First Quarter Results
11/24/2008Reports 2008 Fourth quarter Results
Project news of Titanium Corporation, Inc.
6/22/2007(Oil Sands Project) Oil Sands Drill Core Evaluation Program
Corporate news of Titanium Corporation, Inc.
7/22/2016Titanium Corporation Reports Fiscal Year 2016 Third Quarter ...
6/24/2016Titanium Corp Receives Canadian and U.S. Patents and Updates...
6/13/2016Titanium Corp Receives The 2016 Award For Environmental Inno...
6/1/2016Titanium Issues Restricted Share Units And Deferred Share Un...
4/29/2016Titanium Corporation Reports Fiscal Year 2016 Second Quarter...
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11/30/2015Titanium Corporation Reports Fiscal Year End Results, and An...
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10/15/2015Titanium Corporation Announces Submission to Alberta's Clima...
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2/12/2015Titanium Announces Release of Updated Investor Presentation ...
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6/13/2014Titanium Announces Resignation of Director
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3/26/2014Titanium Corporation Featured at Globe Conference
11/13/2013Reports Fiscal Year End Results; Advances Toward Commerciali...
7/19/2013Logs Key Milestones Towards Commercialization of Value Extra...
5/16/2013Awarded Final Canadian Patent for Breakthrough Oil Sands Tai...
4/17/2013Awarded Patent for Technology That Boosts Bitumen Recovery f...
4/17/2013Awarded Patent for Technology That Boosts Bitumen Recovery f...
3/27/2013Receives Government of Canada Support for a Paraffinic Froth...
3/22/2013Federal Budget Provides Additional $325 Million for Sustaina...
12/12/2012Announces Award of Patent for Breakthrough Oil Sands Tailing...
10/16/2012Awarded Canadian Patent for Minerals Recovery from Oil Sands
3/10/2011Successfully Completes Second Phase of Demonstration Pilot
3/11/2010Sustainable Development Technology Canada Signs Contribution...
7/28/2008Issues Q3 financial statements
7/23/2008senior executive joins titanium Corporation Board
7/7/2008Oil sands Expert joins Titanium Corporation management team
4/30/2008Issues Q2 financial statements
3/31/2008receives $3.5 million Grant from The Province of alberta
3/28/2008Research project to capture valuable minerals from oil sands...
2/25/2008Stock Option Grant
12/20/2007Gordon Pridham appointed as Executive chairman
12/17/2007Victor Wells appointed as chief financial officer
11/19/2007 Senior mining and heavy oil executive joins titanium Corpor...
4/20/2007TIC News Release April 19, 2007
4/19/2007quarterly update
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