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ARGEX TITANIUM ANNOUNCES LETTER OF INTENT WITH A SEASONED INDUSTRIAL GROUP


Montreal, Quebec - December 18, 2015 - Argex Titanium Inc. (TSX: RGX) ("Argex" or the "Company") an emerging producer of high-grade titanium dioxide (TiO2) used as white pigment in paint, plastic, paper, cosmetics and other applications, announced today that it signed a Letter of Intent with an industrial group from the Gulf Region to initiate a two-month due diligence on the Company.


This Group is led by a seasoned executive team with global experience in building and operating world class chemical plants.


This is an exclusive arrangement for the two-month period in order to complete a technical and financial due diligence and recapitalize the Company. Detailed engineering and economic studies would then be performed with the objective of bringing the Argex technology to commercialization, which could include licensing agreements with strategic partners.


Board and Management changes


Effective immediately, Roy Bonnell will step down as President & CEO of the Company as well as Board Member. Mazen Haddad will take the interim position as President & CEO and Board Member. William White will step down from the Board and Lyon Rich will become a Board Member.


About Argex Titanium Inc.


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 applications. The company's unique proprietary process takes relatively inexpensive and plentiful source material from a variety of potential vendors, and produces TiO2 along with other valuable by-products.


For More Information:


Argex Titanium, Inc. Mazen Haddad

Director and interim President & CEO 514 843-5959


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.


630 Sherbrooke Street West, Suite 410, Montreal, QC H3A 1E4 | Tel.: 514.843.5959 | Fax: 514.843-9208

Argex Titanium Inc. issued this content on 2015-12-18 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-11 20:38:07 UTC

Original Document: http://www.argex.ca/images/pdf/en/News-Releases/2015/RGX_PR_EN_dec182015.1.pdf