Argex Titanium Inc. (TSX:RGX) announced a private placement of 43,746,875 units at a price of CAD 0.032 per unit for gross proceeds of CAD 1,399,900 on July 25, 2018. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles its holder to acquire one additional common share at a price of CAD 0.041 for a period of five years. The transaction will include participation from individual investor Munther Khalifa A Allahiq. The securities are subject to a hold period of four months. The transaction will take place in tranches. On the same day, the company issued 19,375,000 units for gross proceeds of CAD 620,000 in its first tranche close. The company will issue additional 24,371,875 units in its second tranche close. The transaction is expected to close in approximately 45 days.