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Enter Symbol
or Name
USA
CA



Titanium Corp Inc
Symbol TIC
Shares Issued 88,480,791
Close 2021-04-15 C$ 0.49
Market Cap C$ 43,355,588
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Titanium signs co-ordination agreement for CVW Horizon

2021-04-15 17:10 ET - News Release

Mr. Scott Nelson reports

TITANIUM CORPORATION ANNOUNCES SIGNING OF PROJECT COORDINATION AGREEMENT FOR THE 2021 ENGINEERING PHASE OF THE CVW HORIZON PROJECT

Titanium Corp. Inc. and Canadian Natural Resources Ltd. have signed a 2021 project co-ordination agreement (PCA), which governs the Jan. 1, 2021, to April 30, 2021, engineering phase of the CVW Horizon project.

The PCA, effective Jan. 1, 2021, sets out the rights and responsibilities of the parties with respect to the 2021 program. Under the PCA, the 2021 program includes completion of validation and optimization of the overall plant design and the updating of the capital and operating cost estimates for the concentrator plant, tailings thickener and associated utilities. The 2021 program also includes the engineering redesign and updating of the capital and operating cost estimates for the mineral separation plant, associated utilities and the minerals product transload facility.

The PCA provides that Canadian Natural and Titanium shall be responsible for 70 per cent and 30 per cent, respectively, of the total cost of the 2021 program and the government grant proceeds related to the 2021 program shall be shared between the parties on the same ratio. The PCA provides that ownership of the 2021 program and any intellectual property rights developed during the program shall be jointly owned pro rata in accordance with each party's contribution. The PCA also sets out the management structure, responsibilities, administration, and certain other customary terms and conditions for the conduct of the 2021 program.

About Titanium Corp. Inc.

Titanium's CVW technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry. The company's technology reduces the environmental impact of oil sands froth treatment tailings while economically recovering valuable products that would otherwise be lost. CVW recovers bitumen, solvents, heavy minerals and water from tailings, preventing these commodities from entering tailings ponds and the atmosphere: Volatile organic compound and greenhouse gas emissions are materially reduced; hot tailings water is improved in quality for recycling; and residual tailings can be thickened more readily. A new minerals industry will be created commencing with the production and export of zircon and other titanium-based minerals.

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