Argex Titanium Inc., an emerging producer of high-grade titanium dioxide (TiO2) used as white pigment in paint, plastic, paper, cosmetics and other applications, has signed a letter of intent (“LOI”) with PVS Chemicals a global manufacturer, distributor and marketer of chemicals, and PVS’s wholly owned subsidiary, Fanchem Ltd. (”PVS”), to distribute 100% of Argex’s iron by-products to be produced at Argex’s first industrial scale titanium dioxide (TiO2) plant to be located in Valleyfield, Quebec.

This LOI will act as a guideline for the negotiation of a definitive off-take and distribution agreement between Argex and PVS, which shall be negotiated over the next several months on an exclusive basis.

“PVS looks forward to negotiating a definitive agreement with Argex and growing this valuable strategic business partnership in the years to come,” stated Jeff Inkes, Vice President and General Manager of Fanchem Ltd.

“A significant portion of Argex’s cost advantage comes from the sale of our iron byproducts,” stated Roy Bonnell, president and CEO of Argex Titanium. “Recent test results for Argex’s iron products indicate that they surpass the current technical requirements of the industry. We are pleased to work with PVS, a proven market leader as we grow our business.”