Titan Adopts Dividend Policy and Declares Quarterly Cash Dividend

Rhea-AI Summary

Titan Mining Corporation has announced a new quarterly cash dividend policy, declaring a C$0.01 dividend per common share for Q4 2022, totaling approximately C$1.4 million. This dividend will be paid on January 13, 2023, to shareholders recorded by December 30, 2022. CEO Don Taylor emphasized this milestone reflects the company's confidence in its business strategy. The dividend is designated as an eligible dividend for Canadian tax purposes, signaling Titan's commitment to providing shareholder value.

Positive

• Adoption of a quarterly cash dividend policy demonstrates company growth and stability.
• Declaration of a C$0.01 dividend per share reflects confidence in future earnings.
• Total quarterly distribution of approximately C$1.4 million indicates strong cash flow.

Negative

• None.

VANCOUVER, British Columbia, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) announces that its Board of Directors has adopted a policy to declare a quarterly cash dividend of C$0.01 per common share. In line with this policy, the Company’s Board of Directors has declared a cash dividend of C$0.01 per common share for the fourth quarter of 2022 (the “Q4 2022 Dividend”) for an aggregate quarterly distribution of approximately C$1.4 million based on the current number of shares outstanding.

The Q4 2022 Dividend is payable on January 13, 2023, to shareholders of record as of the close of business on December 30, 2022.

Don Taylor, President and CEO, commented, “The adoption of a Dividend Policy is a milestone in our evolution as a Company and a recognition of the confidence we are placing in our business.”

The Q4 2022 Dividend will be designated an “eligible dividend” for Canadian tax purposes.

About Titan Mining Corporation

Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York state. Titan is built for growth, focused on value, and committed to excellence. For more information on the Company, please visit our website at www.titanminingcorp.com.

Contact

For further information, please contact:

Investor Relations:
Email: info@titanminingcorp.com

Cautionary Note Regarding Forward-Looking Information

Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including the adoption of a policy to declare a quarterly cash dividend of C$0.01 per common share; and timing of payment of the Q4 Dividend. When used in this news release words such as “to be”, "will", "planned", "expected", "potential", and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators. Such forward-looking statements are based on various assumptions, including assumptions made with regard to the ability to advance exploration efforts at ESM; the results of such exploration efforts; the ability to secure adequate financing (as needed); the Company maintaining its current strategy and objectives; and the Company’s ability to achieve its growth objectives. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

FAQ

What is the amount of Titan Mining's Q4 2022 dividend?

Titan Mining's Q4 2022 dividend is C$0.01 per common share.

When will Titan Mining's Q4 2022 dividend be paid?

The Q4 2022 dividend will be paid on January 13, 2023.

What is the total distribution for Titan Mining's Q4 2022 dividend?

The total distribution for the Q4 2022 dividend is approximately C$1.4 million.

Who is eligible for Titan Mining's Q4 2022 dividend?

Shareholders of record as of December 30, 2022, are eligible for the Q4 2022 dividend.

Is Titan Mining's Q4 2022 dividend eligible for Canadian tax purposes?

Yes, the Q4 2022 dividend is designated as an eligible dividend for Canadian tax purposes.