Argex Titanium Announces Results of Annual Meeting
MONTREAL, Québec (FSCwire) - Argex Titanium Inc. (TSX: RGX) (the “Corporation” or “Argex”) is pleased to announce that the six nominees listed in its management proxy circular dated August 17, 2016 were elected as directors at Argex’s annual and special meeting of shareholders held today in Montreal.
At the meeting, a ballot was conducted for the election of directors. According to proxies received and ballots cast, the following individuals were elected as directors of Argex, with the following results:
| Name of Nominee | Votes for | % | Votes Withheld | % |
| Mazen Alnaimi | 36,432,933 | 99.27 | 268,354 | 0.73 |
| Abderraouf Ghali | 36,471,633 | 99.37 | 229,654 | 0.63 |
| Mazen Haddad | 36,409,497 | 99.20 | 291,790 | 0.80 |
| Steve Hollanda | 36,434,967 | 99.27 | 266,320 | 0.73 |
| Florian A. Rais | 36,413,497 | 99.22 | 287,790 | 0.78 |
| Lyon Rich | 36,536,967 | 99.55 | 164,320 | 0.45 |
At the annual meeting, Argex’s shareholders adopted a resolution approving the issuance by the Corporation of: (i) an aggregate of 8,000,000 common share purchase warrants to three consultants to the Corporation in payment of their respective fees, (ii) 1,120,609 common shares to 7932575 Canada Inc. in payment of its fees, and (iii) 2,000,000 common share purchase warrants to a director of the Corporation, in payment of amounts owing to him by the Corporation, as required by the Toronto Stock Exchange. Shareholders also adopted a resolution approving an issuance by the Corporation of 11,666,666 common share purchase warrants and 11,666,666 “bonus” common share purchase warrants to Mr. Mazen Alnaimi, Executive Chairman and Chief Executive Officer of the Corporation, in payment of his annual compensation for the twelve-month period from August 1, 2016 to July 31, 2017, as required by the Toronto Stock Exchange.
About Argex Titanium
Argex Titanium Inc. has developed an advanced chemical process for the volume production of high-grade titanium dioxide (TiO2) for use in high-quality paint, plastics, cosmetics and other TiO2 applications. The Corporation’s unique proprietary process uses relatively inexpensive and plentiful source material from a variety of potential vendors to produce TiO2, along with other valuable by-products. Argex’s process provides a significant cost and environmental advantage over current legacy TiO2 production methods.
Contact:
Nicole Blanchard
Corporate Communications and Investor Relations
Argex Titanium
nblanchard@argex.ca
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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Argex09152016.pdf
Source: Argex Titanium Inc. (TSX:RGX)
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