Titanium Issues Stock Options and Deferred Share Units
11 June 2019 - 10:00PM
Titanium Corporation Inc. ("Titanium" or the
"Company") announced that it has issued an aggregate of:
(i) 805,000 stock options to executive officers and directors of
the Company in accordance with the Company's shareholder approved
stock option plan; and (ii) 120,380 deferred share units of the
Company ("
DSUs") to non-executive directors under
the Company's shareholder approved deferred share unit plan (the
"
DSU Plan") in settlement of
$83,063 of directors' compensation for the quarter ended March 31,
2019. The DSUs are to be settled in common shares ("
Common
Shares") of the Company when the director retires from all
positions with Titanium.
The stock options are exercisable at a price
equal to $0.69. The stock options expire in five years and vest
over a period of 36 months with 1/3 of the options vesting at the
end of each twelve-month period following the date of grant.
In accordance with the DSU Plan, the number of
DSUs issued was based on a market price of $0.69, being the higher
of the closing price of the Common Shares on the TSX Venture
Exchange ("TSXV") on June 10, 2019 and the 5-day
weighted average price of the Common Shares for the period ended
June 10, 2019.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy the securities in any
jurisdiction. The common shares of Titanium will not be and have
not been registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold in the United States, or
to a U.S. person, absent registration or applicable exemption
therefrom.
About Titanium Corporation
Inc.Titanium Corporation's CVW™ 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™
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 TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
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For further information, contact: |
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Scott Nelson |
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Jennifer Kaufield |
President & CEO |
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Vice President, Finance & CFO |
Tel: (403) 561-0439 |
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Tel: (403) 874-9498 |
Email: snelson@titaniumcorporation.com |
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Email: jkaufield@titaniumcorporation.com |
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