Argex Signs LOI for Control of TIO2 Technology

- February 14th, 2011

Argex Mining Inc. (CVE:RGX) (FSE:ASV) (OTCBB:ARGEF) signed a letter of intent with the principals of Canadian Titanium Ltd. for the purchase of up to a 50.1% interest in CTL for a total consideration of $1 million and 2 million shares of Argex, to be paid on the successful completion of certain milestones and a 2% royalty on Argex titanium dioxide production.

Argex Mining Inc. (TSXV:RGX) (FSE:ASV) (OTCBB:ARGEF) signed a letter of intent with the principals of Canadian Titanium Ltd. for the purchase of up to a 50.1% interest in CTL for a total consideration of $1 million and 2 million shares of Argex, to be paid on the successful completion of certain milestones and a 2% royalty on Argex titanium dioxide production.

The press release states:

Argex has been working closely with the principals of CTL for nearly 12 months and the acquisition of the technology will be mutually beneficial to both parties’ shareholders.

To read the full press release, click here.

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