Mr. Roy Bonnell reports

ARGEX TITANIUM CONVERTIBLE DEBENTURE TO BEGIN TRADING ON TORONTO STOCK EXCHANGE AS RGX.DB

The Toronto Stock Exchange has granted Argex Titanium Inc.'s application for the listing of $7.5-million principal amount of 8-per-cent unsecured convertible debentures effective at the opening of business on Friday, Oct. 31, 2014, under the symbol RGX.DB.

The debentures were issued pursuant to a private placement which closed on June 30, 2014, under a trust indenture entered into on June 30, 2014, between the corporation and CST Trust Company. The indenture provides for appropriate adjustments to be made to the conversion privilege under the debentures and other rights of the holders of debentures in the event of share dividends, subdivisions, consolidations or other forms of capital reorganization involving Argex Titanium.

"The successful closing of the debenture financing in June and the listing of these debentures on the Toronto Stock Exchange solidifies our balance sheet and reflects the high level of interest from the institutional investment community," said Roy Bonnell, president and chief executive officer of Argex Titanium. "We look forward to advancing our groundbreaking technology toward initial commercial production."

The debentures mature on June 30, 2019, unless earlier redeemed, and bear interest at 8 per cent per year, which interest is paid in arrears in quarterly instalments. The debentures are convertible into common shares of the corporation until the maturity date at the option of the debenture holder at a conversion price of $1.14 per common share; this represents a conversion rate of approximately 877 common shares per $1,000 principal amount of debentures.

The debentures shall not be redeemable by the corporation prior to June 30, 2017. On or after June 30, 2017, and prior to the maturity date, the debentures may be redeemed by the corporation, in whole or in part from time to time, upon terms set forth in the indenture, which can be found on SEDAR.

We seek Safe Harbor.