Calgary, Alberta -- August 30, 2017 -- Titanium Corporation Inc. ("Titanium" or the "Company") announced today that Emissions Reduction Alberta ("ERA") has extended certain dates by approximately one month related to the Company's successful application for up to $5,000,000 of ERA funding for the Company's project "Reducing Methane Emissions and Other Environment Impacts from Oil Sands Tailings and Ponds -- Deployment of Sustainable Technology ("Project")". The purpose of the extension is to give the Company and Canadian Natural Resources Limited additional time to complete the detailed planning for engineering design for implementation of Titanium's tailings treatment and recovery technology at Canadian Natural's Horizon oil sands site.
"Detailed planning of the engineering design project is progressing well and this short extension by ERA will enable our Company and Canadian Natural to complete that work and move forward," commented Scott Nelson, President and Chief Executive Officer of Titanium Corporation.
The Project has been approved for funding of up to the lessor of $5,000,000 Canadian Dollars or 50% of the total eligible Project expenses. ERA's funding approval is subject to written confirmation by September 28, 2017 that all other sources of funding for the project have been secured and successful negotiation by October 31, 2017 of a Contribution Agreement with ERA on terms satisfactory to ERA.
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.
For further information, contact:
|Scott Nelson||Jennifer Kaufield|
|President & CEO||Vice President, Finance & CFO|
|Tel: (403) 561-0439||Tel: (403) 874-9498|
|Email: email@example.com||Email: firstname.lastname@example.org|
You can view the Next News Releases item: September 5, 2017, Titanium Issues Restricted Share Units and Deferred Share Units
You can view the Previous News Releases item: July 25, 2017, Titanium Issues Restricted Share Units And Stock Options
You can return to the main News Releases page, or press the Back button on your browser.