Mr. Serge Depatie reports

ARGEX ANNOUNCES AGM RESULTS

The nominees listed in Argex Titanium Inc.'s management information circular for the 2015 annual general meeting of shareholders were elected as directors of Argex. Detailed results of the vote for the election of directors held at the annual general meeting on June 23, 2015, in Montreal, Que., are set out in the attached table.

Directors                   For         %        Withheld          %  
   
Roy Bonnell          27,928,252      72.2%     10,754,908      27.8% 
Robert Guilbault     27,746,686     71.73%     10,936,474     28.27%
Glen Kayll           27,318,752     70.62%     11,364,408     29.38%
Mazen Haddad         35,196,332     90.99%      3,486,828      9.01% 
Normand Bergeron     28,248,952     73.03%     10,434,208     26.97%
Florian A. Rais      35,100,332     90.74%      3,582,828      9.26% 

The shareholders of Argex have also voted in favour of the appointment of Argex's auditor and against the continuation of Argex's shareholder rights plan. In light of the important number of votes against Argex's shareholders rights plan, the corporation withdrew the proposal and the shareholders rights plan terminated as of the end of the annual general meeting.

At the board of directors meeting subsequent to the annual general meeting, the following decisions were taken:

• William White was appointed as director of the corporation; Glen Kayll voluntarily stepped down from the board of directors to make room for Mr. White;
• Mazen Haddad was named chairman of the board of directors, replacing Robert Guilbault, who stepped down from the board after serving as chairman for four years;
• Normand Bergeron, who has served on the board of directors for three years, also stepped down.

Daniel Verret, Argex's corporate controller, will assume the role of chief financial officer in replacement of Mr. Kayll. Mr. Verret is a chartered professional accountant and a seasoned finance executive. Between 2002 and 2014, Mr. Verret served as vice-president and principal accounting officer at Yellow Pages, where he oversaw financial reporting, accounting services and administrative services. He played an instrumental role in Yellow Pages' growth and has been directly involved in transactions and financing in excess of $7-billion during his career. Mr. Kayll will remain with the corporation in a special advisory role.

"Argex would like to thank Glen, Robert and Normand for their contribution over the past years towards Argex's goals and objectives. We are excited by the expected contribution by Mr. White and Mr. Haddad in their new roles. A greater emphasis on strategic industry relationships and shareholder value and communications are primary amongst Argex's key deliverables over the next 12 months," commented Roy Bonnell, president and chief executive officer of Argex.

The corporation also announced that it has raised gross proceeds of $300,000 in a private placement of common shares, which closed on June 30, 2015. In connection with the private placement, insiders of the corporation, namely Mazen Haddad and Roy Bonnell, completed a transaction whereby they sold a total of 2,222,222 common shares of Argex to a North American investment group, and then bought 2,222,222 common shares under the private placement. All transactions were done at equal pricing. "The private placement is the first step in an expected series of financial measures designed to provide Argex with financial stability over the long run," added Mr. Bonnell. Proceeds of the private placement will be used for general corporate purposes. The common shares issued pursuant to the private placement will be subject to a four-month hold under applicable securities laws.

We seek Safe Harbor.