CALGARY, ALBERTA - July 7, 2017 (Investorideas.com Newswire) Titanium Corporation Inc. ("Titanium" or the "Company") (TSX VENTURE:TIC) is pleased to announce that the Company's project "Reducing Methane Emissions and Other Environment Impacts from Oil Sands Tailings and Ponds - Deployment of Sustainable Technology ("Project")" is a successful applicant in ERA's Methane Challenge.
Titanium is working with Canadian Natural Resources Limited ("Canadian Natural") to conduct engineering design for an oil sands tailings treatment system that eliminates certain tailings streams while recovering bitumen, solvent, and high-value minerals. By preventing solvent and bitumen release, the vast majority of methane emissions from mined oil sands operations can be reduced. The technology is targeted at froth treatment tailings, which are estimated to be responsible for more than 90% of methane emissions from tailings ponds. Results from the Canadian Natural-sponsored project will be applicable to other large oil sands mines and results will be shared and disseminated through Canada's Oil Sands Innovation Alliance.
The Company's 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 August 31, 2017 that all other sources of funding for the project have been secured and successful negotiation by September 29, 2017 of a Contribution Agreement with ERA on terms satisfactory to ERA.
"We are gratified that ERA has selected our Company for funding and are excited about the potential for a first commercial implementation of our Creating Value from Waste™ technology," commented Scott Nelson, Titanium's President and Chief Executive Officer. "Our team is working closely with Canadian Natural to meet the timelines and conditions set by ERA and move forward with engineering design".
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.
Disclosure regarding forward-looking statements
This press release contains forward-looking statements. More particularly, this press release contains statements concerning the potential for a first commercial implementation of the Company's technology. Although the Company believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.om newswire http://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.