03/16/2017 – Argex Titanium Holds Second Closing of Private Placement


MONTREAL, Québec - Argex Titanium Inc. (TSX: RGX) (“Argex”) is pleased to announce that it has held a second closing of its previously-announced private placement at which it issued an aggregate of 3,929,037 units to arm’s-length “accredited investors” at a price of $0.054 per unit, for gross proceeds to Argex of $212,168. Argex has now issued a total of 32,722,237 units in the private placement for aggregate gross proceeds of $1,767,000. Each of the units is comprised of one common share and one-quarter of a common share purchase warrant; each full warrant entitles its holder to acquire one additional Argex common share at a price of $0.12 for a period of 18 months. In the event that the closing price of Argex’s common shares on the Toronto Stock Exchange is at least $0.15 for a period of not less than 20 consecutive trading days, the warrants will expire, at the sole discretion of Argex, on the 30th day after the date on which Argex sends a notice in prescribed form to the holders of the warrants. The securities issued at the second closing are subject to a four-month “hold period” under applicable securities regulations.