Argex has signed a letter of Intent (LOI) with the principals of Canadian Titanium Ltd(CTL) for the acquisition of a controlling interest in CTL.  The principals of CTL own proprietary technology and underlying patents that Argex will be implmentating with a goal of commercializing the process for the production of high purity TiO2 suitable for pigment production. Argex also is anticipating the completion mini-plant metallurgical testing in 2011. The definitive agreement with CTL is anticipated in the near future. Titanium Dioxide(TiO2) is fundamental to many basic building blocks in the economy including paint, housing materials, automobiles, industrial equipment, consumer packaging and construction materials.