Titanium Corporation Receives Final Grant Payment From Emissions Reduction Alberta (“ERA”)
Titanium Corporation Receives Final Grant Payment From Emissions
Reduction Alberta (“ERA”)
CALGARY, Alberta, Aug. 01, 2019 -- Titanium Corporation Inc. (the "Company" or "Titanium") (TSX-V: TIC) is pleased
to announce receipt of the final payment of $991,000 related to the $5.0 million grant from Emissions Reduction Alberta
(“ERA”) for partial funding of the Front End Engineering Design (“FEED”) phase of the CVW™ Horizon Project. The payment
represents a 20% holdback by ERA which was subject to final project reporting and completion of a third party audit of project
costs. The $9.9 million engineering design phase was supported by $5.0 million of grant funding from Emissions Reduction
Alberta (“ERA”) with the Company funding $1.4 million and Canadian Natural Resources Limited funding $3.5 million.
"The FEED phase of the Project has been successfully executed on-time and on-budget by the joint project team,”
commented Scott Nelson, Titanium’s President and Chief Executive Officer. “We are now collaborating with government
funding agencies including ERA to complete agreements for the previously announced $50 million of additional grant funding
toward the next phase of the CVW™ Horizon Project.”
About Titanium Company Inc.
Titanium Company's CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oil sands
industry. Our technology reduces the environmental impact of oil sands froth treatment tailings while economically recovering
valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents, heavy minerals and water 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-V under the symbol "TIC". For more information
please visit the Company's website at www.titaniumcorporation.com.
About Emissions Reduction Alberta( https://www.eralberta.ca)
ERA works with government, industry and innovators to accelerate development of innovative technologies that reduce GHG
emissions. We are helping Alberta transition to a lower carbon future with a stronger, more diversified economy.
Disclosure regarding forward-looking information
This news release contains forward-looking statements and information within the meaning of applicable Canadian securities
laws (collectively, " forward-looking information ") that reflect the current expectations of management about the future
results, performance, achievements, prospects or opportunities for Titanium, including statements relating to overall project
economics; the advantages of the Company's technology and the creation of a mineral sands industry; the timing and
expectations for completion of the post-FEED project activities; the scope of activities that will be undertaken in the post-
FEED project; the Company's ongoing engagement with indigenous communities and other stakeholders; the use of proceeds
from the private placement; and the expected next steps for the Company as described in this news release. These
statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate",
"anticipate", "believe", "project", "should" or "continue" or the negative thereof or similar variations.
Forward-looking information is presented in this news release for the purpose of assisting investors and others in
understanding certain key elements of our commercialization progress and business plan, as well as our objectives, strategic
priorities and business outlook, and in obtaining a better understanding of our anticipated operating environment. Readers are
cautioned that such information may not be appropriate for other purposes.
Forward-looking information, by its very nature, is subject to inherent risks and uncertainties and is based on many
assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially
from our expectations expressed in or implied by such forward-looking information and that our business outlook, objectives,
plans and strategic priorities may not be achieved. In addition to other factors and assumptions which may be identified in this
news release, assumptions have been made regarding, among other things: the success of the post-FEED study project
activities; Canadian Natural’s support for the Company’s current optimization plans and potential refinements of the project
scope; the economic viability of the Company’s current optimization plans and potential refinements to the project scope; the
ability of the Company to enter into commercial contracts with oil sands producers and to achieve commercialization of the
CVW™ technology, including the anticipated scope of such commercial contracts; the ability of the Company to retain
qualified staff; the translation of the results from the Company's research, pilot programs, FEED project activities, post-FEED
study project activities and studies into the results expected on a commercial scale; future oil and zircon prices and the
impact of lower prices on activity levels and cost savings of oil sands producers; the impact of increasing competition; the
general stability of the economic and political environment in which the Company operates; the ability to obtain and maintain
the Company's intellectual property; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes
and environmental matters in the jurisdictions in which the Company operates; and the ability of the Company to successfully
market its CVW™ technology. The forward-looking information contained in this news release is based on the results of our
research, pilot programs, FEED project activities, post-FEED project activities and related studies and commercialization
efforts. The Company has not commercially demonstrated its technologies and there can be no assurance that such
research, pilot programs, FEED project activities, post-FEED project activities and related studies will prove to be accurate
nor that such commercialization efforts will be successful, as actual results and future events could differ materially from
those expected or estimated in such forward-looking statements. As a result, we cannot guarantee that any forward-looking
information will materialize and we caution you against relying on any of this forward-looking information. Accordingly, readers
should not place undue reliance on forward-looking information.
Additional information on these and other factors are disclosed in our MD&A, including under the heading “Discussion of
Risks”, and in other reports filed with the securities regulatory authorities in Canada from time to time and available on
SEDAR (sedar.com).
The forward-looking information contained in this news release describes our expectations as of August 1, 2019 and,
accordingly, are subject to change after such date. Except as may be required by Canadian securities laws, we do not
undertake any obligation to update or revise any forward-looking information contained in this news release, whether as a
result of new information, future events or otherwise.
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 further information, contact:
Scott Nelson Jennifer Kaufield
President & CEO Vice President Finance & CFO
Tel: (403) 561-0439 Tel: (403) 874-9498