CALGARY, Alberta, July 23, 2021 (GLOBE NEWSWIRE) – Titanium Corporation Inc. (the “Company” or “Titanium”) (TSX-V: TIC) announces that the Court of the Queen’s Court of Alberta has granted her an extension pursuant to Section 133 (3) of the Business Corporations Act of Canada allowing the Company to hold its annual general and extraordinary meeting at any time on or before December 30, 2021. Previously announced discussions between Titanium’s key shareholders and the Company’s Board of Directors have not yet concluded. These discussions are focused on obtaining financing for the Company and the Board of Directors is evaluating financing options. Depending on the outcome of these discussions and the evaluation, certain Titanium directors may remove their names for re-election and the Board of Directors may elect to nominate alternate directors for election. While the Board of Directors will endeavor to hold the shareholders’ meeting as soon as possible and well before the December 31 deadline, these discussions and evaluation are ongoing and will take longer.
The extension should provide Titanium with the time necessary to conclude discussions with these key shareholders and complete its evaluation of possible financing alternatives before preparing the required updated information circular, distributing the related powers, and communicating these developments to shareholders. The company will issue a press release when a date has been set for Titanium’s new annual general and extraordinary shareholders meeting.
Titanium does not intend to disclose developments with respect to ongoing discussions unless and until the Board of Directors has approved a final course of action or otherwise deems disclosure appropriate or required by law.
About Titanium Corporation Inc.
Titanium’s CVW ™ technology offers sustainable solutions to reduce the environmental footprint of the oil sands industry. Our technology reduces the environmental impact of oil sands foam treatment tailings while economically recovering valuable products that would otherwise be lost. CVW ™ recovers bitumen, solvents, heavy minerals and water from tailings, preventing these products from entering tailings ponds and the atmosphere: emissions of volatile organic compounds and greenhouse gases are substantially reduced; the quality of hot tailings water for recycling is improved; and residual tailings can thicken more easily. A new mineral industry would be created from the production and export of zircon, an essential ingredient in ceramics. The Company’s shares are listed on the TSX-V under the symbol “TIC”. For more information, visit the company’s website at www.titaniumcorporation.com.
Forward-Looking Information Disclosure
This press release includes forward-looking statements regarding expected future events, including, but not limited to, the anticipated timing of Titanium’s annual meeting and possible changes in matters that arise prior to the annual and special shareholders meeting. , including the election of directors. . Forward-looking statements often use words such as “anticipate”, “believe”, “project”, “expect”, “plan”, “intend” or similar words that suggest future results, statements that actions, events or conditions “may”, “Could”, “could” or “will” be taken or will occur in the future. Although Titanium believes that the expectations represented in such forward-looking statements are reasonable, there can be no guarantee that such expectations will prove to be correct. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and you should not unduly rely on the forward-looking statements.
These forward-looking statements are based on various assumptions including, but not limited to, expectations regarding ongoing discussions with key shareholders and the transactions that may result from them; the estimated calendar of the annual and extraordinary shareholders meeting; and the timing, location, and scope of changes to matters that arise prior to the annual and extraordinary shareholders meeting, including the election of directors. Although the company believes that these assumptions are reasonable based on the information currently available, they may turn out to be incorrect. Titanium cautions that future events may be affected by a number of factors, many of which are beyond your control and results may vary substantially from what Titanium currently anticipates. By their nature, forward-looking statements involve numerous known and unknown risks and uncertainties and other factors that contribute to the possibility that the intended outcome may not occur, including but not limited to: that discussions with key shareholders may not result in action. definitive. and, if carried out, that such actions may not be successful or have good terms; and the risk that discussions with key shareholders will not result in changes to the issues to be considered at the annual meeting. Readers are cautioned that the above list of factors is not exhaustive. The forward-looking statements contained in this press release are made as of the date of this press release and the Company assumes no obligation to publicly update or revise any of the included forward-looking statements, whether as a result of new information, future events, or of other type, except as required by applicable securities law.
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 more information, contact:
|Scott nelson||Hansine ullberg|
|President and CEO||Vice President of Finance and CFO|
|Tel: (403) 561-0439||Tel: (403) 750-9311|
|Email: firstname.lastname@example.org||Email: email@example.com|