Mr. Serge Depatie reports

ARGEX COMPLETES NON-BROKERED PRIVATE PLACEMENT

Argex Titanium Inc. has completed a non-brokered private placement financing for aggregate gross proceeds of $100,000. As part of the offering, 800,000 units were sold at a price of 12.5 cents per unit for gross proceeds of $100,000.

"This placement is another part of the necessary groundwork required to achieve Argex's value-added goals," said Roy Bonnell, president and chief executive officer.

"As recently stated, Argex believes that its value proposition of more profitable and environmentally friendly titanium dioxide production is an attractive proposition to the industry. Over the last two months, we have successfully streamlined our operations and have been working diligently to achieve the goals that we have set out," added Mr. Bonnell.

Each unit comprises (i) a common share of Argex; and (ii) a common share purchase warrant entitling its holder to acquire one common share of Argex at a price of 15 cents per share until Sept. 30, 2017. The net proceeds of the offering will be used for general corporate and working capital purposes.

Securities issued pursuant to the offering are subject to a four-month-plus-one-day statutory hold period from their date of issuance. The Toronto Stock Exchange has conditionally approved the offering.

We seek Safe Harbor.