CALGARY, Alta., March 07, 2022 (GLOBE NEWSWIRE) — Titanium Corporation Inc. (the “Company” or “Titanium”) (TSX-V: TIC) announces that Scott Nelson will retire as President and Chief Executive Officer of the Company effective March 31, 2022. Upon Mr. Nelson’s retirement, and until the Board of Directors (the “Plank“) of the Company appoints a permanent Chief Executive Officer, the Board has appointed the current Chairman, Darren Morcombe, to serve as the Company’s Executive Chairman and Interim Chief Executive Officer effective March 31, 2022.
With the Chairman assuming an interim executive role, the Board has appointed John Brussa as Independent Lead Director, in accordance with best governance practices.
In order to continue to benefit from Mr. Nelson’s in-depth knowledge of the Company, government agencies and our partners in the oil sands industry, Mr. Nelson will be engaged by the Company as a consultant until the end of May 2025.
Mr. Nelson has worked tirelessly to advance the development of the company and its CVWMT technology since his appointment in 2005. He has overseen the technical development and successful piloting of tailings technology at a number of oil sands operations, secured significant government support in the form of grants, and established a strong partnership with Canadian Natural Resources Limited (“Canadian Natural”) to undertake FEED studies and other optimization studies for the potential deployment of CVWMT technology at Canadian Natural’s Horizon site. The Board of Directors would like to thank Scott for all his hard work in moving the company to where it is today, look forward to continuing to work with him as a consultant and wish Scott the very best. for his retirement.
Announcing the changes, Mr. Morcombe thanked Mr. Nelson for his efforts as CEO. “I look forward to continuing to work with Scott and building on the fantastic foundation he has forged and with the incredible team he has built over the past 17 years. I personally appreciate his continued commitment. to the company even if his personal priorities change.
Mr. Nelson said, “It has been a privilege to work with the talented team at Titanium and our industry and government partners, collaboratively developing innovative clean technology solutions for the oil sands industry. I am optimistic about the future of our business and the CVW™ technology that will help the industry achieve its ESG goals.
About Titanium Corporation
Titanium is a clean technology innovator focused on providing solutions to the mining sector of the Canadian oil sands industry. Titanium Corporation’s CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry. Our technology reduces the environmental impact of oil sands froth processing tailings, while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents, heavy minerals and water from tailings, preventing these products from entering tailings ponds and the atmosphere: emissions of volatile organic compounds and greenhouse gases are dramatically reduced; the quality of hot tailings water is improved for recycling; and residual residues can be thickened more easily. A new mineral industry would be created with the production and export of zircon and titanium, essential ingredients in the ceramic and pigment industries.
For more information, please contact:
|Darren Morcombe||Ingrid Meger|
|Executive Chairman and Interim CEO||Vice President Finance and Chief Financial Officer|
|(+41) 79205 2687||(403) 862-8325|
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