CALGARY, ALBERTA -- (Marketwired) -- 07/25/17 -- Titanium Corporation Inc. ("Titanium" or the "Company") (TSX VENTURE: TIC) announces that it has issued restricted share units of the Company ("RSUs") and stock options of the Company ("Options") under each of the Company's shareholder approved restricted share unit plan (the "RSU Plan") and stock option plan (the "Option Plan"), respectively.
The Company issued 108,759 RSUs to Dr. Kevin Moran, Executive Vice-President & Chief Technology Officer, in settlement of $149,000 of deferred compensation owing to him. The RSUs vest immediately and entitle him to acquire one common share of the Company (a "Common Share") underlying each such RSU by delivering a notice of acquisition to the Company and paying the required award price and withholding taxes, all in accordance with the RSU Plan. Also in accordance with the RSU Plan, the RSUs were priced based on the closing price of the Common Shares of the Company on the TSX Venture Exchange on July 25, 2017.
Additionally, the Company issued 200,000 Options to Mr. Niel Erasmus, Vice President, Mineral Sands, in accordance with the Option Plan. The Options are exercisable at a price of $1.37 per Common Share (being equal to the closing price of the Common Shares of the Company on the TSX Venture Exchange on July 25, 2017), expire in five years and vest over a period of 36 months with 1/3 of the Options vesting at the end of the twelve, twenty-four and thirty-six month periods following the date of grant.
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.
Titanium Corporation Inc.
President & CEO
Titanium Corporation Inc.
Vice President, Finance & CFO