CALGARY, ALBERTA--(Marketwired - Oct. 27, 2015) - Titanium Corporation Inc. ("Titanium" or the "Company") (TSX VENTURE:TIC) announced that management and directors of the Company have exercised 700,000 stock options due to expire on October 28, 2015.
"These stock option transactions strengthen our Company's balance sheet as we continue to commercialize our technology," commented Scott Nelson, Titanium's President and Chief Executive Officer. "With the recent announcement of our investment in share units and these option transactions, our officers and directors have increased their combined share ownership in our Company to 15.5%, further aligning our interests with our shareholders."
These stock option transactions injected $506,000 into the Company. In connection with these transactions, officers and directors sold 418,300 common shares from their underlying stock option exercises (358,300) and other holdings (60,000), to fund the payment of the exercise prices and applicable taxes payable. Management and directors acquired and held an additional 266,700 common shares of the Company through the stock option transactions and now hold a combined total of 10,681,462 securities consisting of common shares, deferred share units and restricted share units, representing 15.5% of the total number of such securities outstanding.
About Titanium Corporation Inc.
Titanium Corporation'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 tailings while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents and minerals 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, an essential ingredient in ceramics. The Company's shares trade on the TSX Venture Exchange under the symbol "TIC". For more information, please visit the Company's website at www.titaniumcorporation.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Marketwired (Canada)
(October 27, 2015 - 4:14 PM EDT)
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