Titanium Announces Funding Sources for Engineering Design Project at Canadian Natural Resources Limited’s Horizon Oil Sands Site
Titanium Announces Funding Sources for Engineering Design Project at
Canadian Natural Resources Limited’s Horizon Oil Sands Site
CALGARY, Alberta, Sept. 28, 2017 -- Titanium Corporation Inc. ("Titanium" or the "Company") (TSXV:TIC) is pleased to
announce that written confirmation has been provided to Emissions Reduction Alberta (“ERA”) that all other funding sources
related to the previously announced ERA approved project have been secured for the project. Titanium and Canadian Natural
Resources Limited (“Canadian Natural”) have confirmed commitments to fund $1.5 million and up to $3.7 million respectively.
The project will conduct engineering design for implementation of Titanium’s tailings treatment and recovery technology at
Canadian Natural’s Horizon oil sands site.
The estimated $10.2 million project has been approved for funding by ERA of up to the lesser of $5.0 million or 50% of the total
eligible project expenses. ERA’s funding approval is subject to successful negotiation by October 31, 2017 of a Contribution
Agreement with ERA on terms satisfactory to ERA.
“Titanium and Canadian Natural are pursuing a unique solution that Alberta and Canada need to reduce methane,” said ERA
CEO Steve MacDonald. “This commitment to innovation and partnership by industry will accelerate the development of cleaner
and more sustainable technologies and processes.”
“We are pleased to have achieved this important milestone on the path to commercialization and are looking forward to moving
ahead with the Canadian Natural team on the engineering design project,” commented Scott Nelson, President and Chief
Executive Officer of Titanium Corporation. “The ERA funding is a valued component of the project and progress on finalizing the
ERA Contribution Agreement is well advanced.”
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 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.
Disclosure regarding forward-looking statements
This press release contains forward-looking statements. More particularly, this press release contains statements concerning
the potential for a first commercial implementation of the Company’s technology. Although the Company believes that the
expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them
because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address
future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking
statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward looking statements or information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
For further information, 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]