Skip to main content

Titanium Announces Payment From Emission Reduction Alberta for the First Engineering Phase Milestone of the CVW™ Horizon Project

Written by Customer Service on . Posted in Public Companies.

CALGARY, Alberta, March 11, 2021 (GLOBE NEWSWIRE) — Titanium Corporation Inc. (“Titanium” or the “Company”) (TSXV: TIC) today announced the completion and payment of the first milestone of $800,000 less a 20% holdback, from Emissions Reduction Alberta (“ERA”) for the engineering phase of the CVW™ Horizon Project. The ERA payment is the first under the $5 million ERA Contribution Agreement previously announced on September 28, 2020.
The payment is with respect to 2020 joint project costs totaling $5.4 million incurred by Titanium and Canadian Natural Resources Limited (“Canadian Natural”) and shared $1.6 million and $3.8 million, respectively. The net payment of $640,000 is allocated on a 30% (Titanium – $192,000) and 70% (Canadian Natural – $448,000) basis under the 2020 Project Coordination Agreement, previously announced on December 22, 2020.About Titanium Corporation Inc.Titanium’s CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry. The Company is working with Canadian Natural on engineering validation of its CVW™ technology. 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 remediated 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.About Emissions Reduction Alberta (“ ERA” https://www.eralberta.ca)For more than 10 years, ERA has been investing the revenues from the carbon price paid by large final emitters to accelerate the development and adoption of innovative clean technology solutions. Since ERA was established in 2009, they have committed $616 million toward 186 projects worth $4.5 billion that are helping to reduce GHGs, create competitive industries and are leading to new business opportunities in Alberta. These projects are estimated to deliver cumulative reductions of 35 million tonnes of CO₂e by 2030.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
President & CEO
Tel: (403) 561-0439
Email:

Jennifer Kaufield
Vice President Finance & CFO
Tel: 403-874-9498
Email:

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.